"The property was intended to be beneficially used and owned by the Anil Ambani family and not for the distressed public banks whose loans turned NPA,” the spokesperson alleged. (File Photo)The Enforcement Directorate has provisionally attached industrialist Anil Ambani’s residence, ‘Abode’, in Mumbai’s posh Pali Hill area valued at Rs 3,716.83 crore under the Prevention of Money Laundering Act (PMLA), the agency said on Wednesday. Earlier, it had provisionally attached Ambani’s properties worth Rs 473.17 crore. ED investigation has revealed that among other assets, the Pali Hill property was aggregated into the RiseE Trust – a Private Family Trust of the members of Anil Ambani’s family. This was done to make it appear as though Anil Ambani is not involved,” an ED spokesperson said in a statement.

Source: Indian Express February 25, 2026 17:21 UTC