The Enforcement Directorate struck hard against fugitive debt defaulters, attaching Anil Ambani’s premium Pali Hill property ‘Abode’ amid a sprawling investigation into Reliance Communications’ bank fraud. Priced at Rs 3,716.83 crore, it marks a milestone, with total group seizures surpassing Rs 15,700 crore.
Triggered by CBI’s FIR under serious IPC and corruption statutes, the ED’s Special Task Force invoked PMLA to freeze the asset. Revelations point to RCom’s aggressive borrowing spree—Rs 40,185 crore outstanding, largely NPAs—coupled with the suspicious transfer of the bungalow to an Ambani family trust during restructuring.
Authorities argue this was no coincidence: it shielded the property from Ambani’s personal guarantees on loans, prioritizing family interests over bank repayments. A prior partial attachment of Rs 473.17 crore sets the stage for this full clampdown.
ED’s firm statement underscores its mandate to dismantle money laundering networks and recover public wealth. As India’s enforcement agencies tighten the noose on high-profile defaulters, this case exemplifies the perils of unchecked corporate leverage. Ongoing probes could unearth deeper links, reshaping narratives around billionaire accountability.