Mumbai, July 24, 2025: In a sweeping enforcement action, the Enforcement Directorate (ED) raided over 35 locations and 50 companies associated with Anil Ambani’s Reliance Group on Wednesday. The operation is part of an investigation into an alleged ₹3,000 crore loan fraud involving Yes Bank, and searches were conducted across key sites in Mumbai and Delhi.
According to news agency PTI, the ED’s action stems from two FIRs filed by the Central Bureau of Investigation (CBI), along with inputs from the Securities and Exchange Board of India (SEBI), National Housing Bank (NHB), Bank of Baroda, and the National Financial Reporting Authority (NFRA).
Key Developments Explained
Q1: Why is the ED investigating Anil Ambani?
The probe focuses on loans amounting to nearly ₹3,000 crore, disbursed by Yes Bank between 2017 and 2019 to companies within the Reliance Group. Preliminary findings suggest that these funds were allegedly siphoned off to shell firms and other group entities. Investigators also suspect that senior Yes Bank officials may have received kickbacks.
Q2: What has the ED found so far?
The ED alleges this was a “well-orchestrated financial scheme” to mislead banks, regulators, and shareholders. Several serious irregularities have surfaced, including:
Loans granted to unverifiable or financially weak companies.
Multiple companies sharing the same directors and registered addresses.
Missing or insufficient documentation related to loan disbursal.
Funds funneled into shell or fake companies.
“Evergreening” of loans—new loans issued to repay old ones.
Q3: What role is the CBI playing in the case?
The ED’s investigation is based on two FIRs registered by the CBI, which accuse the Reliance Group of large-scale financial misconduct. The case was strengthened by further reports from SEBI, NHB, Bank of Baroda, and NFRA.
Q4: How did the raids impact Anil Ambani’s companies?
Following news of the raids, shares of Reliance Infrastructure and Reliance Power two of Ambani’s major listed firms dropped by nearly 5%, reflecting investor concerns.
Q5: Are there other serious allegations against Anil Ambani or his companies?
Yes. The State Bank of India (SBI) recently declared Reliance Communications (RCom) and Anil Ambani as “fraudulent entities.”
According to SBI, RCom misused loans worth ₹31,580 crore. Of this amount, ₹13,667 crore was allegedly used to repay loans of other firms, while ₹12,692 crore was transferred to other Reliance Group companies.
SBI stated that it is in the process of filing a formal complaint with the CBI. Additionally, insolvency proceedings against Anil Ambani are currently underway at the National Company Law Tribunal (NCLT) in Mumbai.
