July 25,2025 — The Enforcement Directorate (ED) on Thursday launched a major crackdown across multiple cities, searching 35 premises linked to the Anil Ambani-led Reliance Group as part of an ongoing investigation into an alleged ₹12,000 crore loan fraud.
The raids, carried out under the provisions of the Prevention of Money Laundering Act (PMLA), covered offices and residences connected to top executives and former directors of various Reliance Group companies. Locations in Mumbai, Delhi, and several other cities were targeted.
According to sources familiar with the probe, the investigation stems from earlier FIRs registered by the Central Bureau of Investigation (CBI). These FIRs allege that group entities — including Reliance Communications, Reliance Infrastructure, and Reliance Power — defaulted on loans taken from public sector banks and financial institutions. The loans, disbursed between 2011 and 2016, reportedly became non-performing assets (NPAs), resulting in major financial losses to the lending institutions.
Investigators suspect that a significant portion of the borrowed funds may have been diverted through shell companies and overseas accounts in a deliberate attempt to conceal the misuse of public money.
“Documents, digital data, and financial records are being examined. Initial findings suggest systematic diversion of funds by certain group firms,” said an official from the ED, who spoke on condition of anonymity.
The cumulative value of the loans under investigation is estimated to exceed ₹12,000 crore, making it one of the most significant fraud cases involving a large corporate group in recent years.
No official statement has been released yet by Anil Ambani or the Reliance Group. However, insiders within the organization have described the searches as part of “standard legal procedures” and stated that the group is extending full cooperation to investigating authorities.
Anil Ambani and his companies have previously come under regulatory scrutiny for financial mismanagement and debt defaults. In 2020, the industrialist attracted headlines after declaring in a UK court that he had no substantial net worth, despite once being among India’s wealthiest individuals.
This latest enforcement action is part of a broader campaign by Indian authorities to hold corporate defaulters accountable and restore public trust in the banking system. Experts say the development also highlights ongoing concerns around corporate governance, regulatory oversight, and transparency in the country’s financial sector.
Further details about the case are expected to emerge as the ED continues its investigation, with additional summons and inquiries likely in the coming days.
