The troubled businessman Anil Ambani has appeared before the Enforcement Directorate (ED) in New Delhi on Thursday, February 26, 2026, in connection with an alleged bank fraud-linked money laundering case. Earlier on Wednesday, the probe agency had attached, or seized, Reliance Group Chairman Anil Ambani’s Mumbai bungalow ‘Abode’. According to PTI, its value was estimated to be around Rs 3,716 crore. This action was taken under the Prevention of Money Laundering Act (PMLA). The case is related to an alleged bank fraud committed by his group company, Reliance Communications (RCOM). Anil Ambani is under investigation in a Rs 40,000 crore bank fraud case. Anil Ambani’s bungalow is located in Pali Hill, one of Mumbai’s most posh areas. This 66-meter-high bungalow has a total of 17 floors. It is considered one of the most expensive residential homes in the country. The ED had issued a provisional order to attach this property. The central agency had taken this major step after a long-running investigation into the bank fraud case. The entire matter is related to RCOM This entire action is part of an ongoing investigation against Reliance Communications (RCOM) and its associated companies. It is alleged that the loan amount taken from the bank was misused and diverted to other activities. The ED had been investigating the financial transactions of Anil Ambani and his group for quite some time. Ambani has been questioned in this matter before. RCOM has been grappling with a financial crisis for several years. Burdened by heavy debt, the company is currently undergoing the insolvency process under the Insolvency and Bankruptcy Code (IBC). What does provisional attachment mean? Property attachment by ED means that this property can no longer be sold or transferred. If money laundering charges are proven in court, this bungalow may also be auctioned in the future to recover outstanding money owed to banks. However, Anil Ambani can appeal against this order in a tribunal or the High Court. Many properties attached so far Earlier, many properties of Anil Ambani have been attached in the bank fraud case. The attached properties are in cities like Delhi, Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai, Kanchipuram, and East Godavari. These include residential units, office spaces, and land parcels. Anil Ambani’s Pali Hill residence, in particular, is the most high-profile. So far, properties worth approximately Rs 15,000 crore have been attached. Post navigation Sensex reaches 82,300 with slight gains:Nifty rises to 25,500; buying in PSU bank stocks
