The Directorate for Pravo (ED) seeks against the companies of the Reliance Group Anil Ambani in Mumbai on Saturday (July 26, 2025) continued on the third day, recovering a number of documents and computer periphery from several places, the official sources said.
The raids started on July 24 July Federal Probe Agency within the alleged 3,000 GBP Crore worth a bank laundering case, in addition to several other charges of financial discrepancies with CRORES RUPIs by some companies.
“The search, carried out by the law on the prevention of money laundering (PMLA), continues in some places from more than 35 spaces that have been covered in Mumbai since Thursday (July 24, 2025),” the sources said.
These premises include 50 companies and 25 people, including a number of elements of anil Ambani groups.
ED sources said that the investigation mainly concerns the accusation of the unlawful out of the loan of approximately 3,000 GBP Crore, given by the YES bank for groups of Mr. Ambani in 2017–2019.
The Reliance Power and Reliance Infrastructure infrastructure, two companies in the group, on Thursday (July 24, 2025) reported exchanges that stated that the event had “absolutely no impact” on their business operations, financial performance, shareholders, employees or other parties.
“Media reports appear to be accused of Reliance Communications Limited (RCOM) or Reliance Home Finance Limited (RHFL), which are over 10 years of age,” the company said.
Ed, the sources said, found that just before granting a YES loan, banks ‘promoters’ received money in their fears.
The agency is investigating this connection “bribe” and loans.
Sources stated that ED also examines the accusations of “gross violation” in ANO approval of banking loans to these companies, including fees, such as a Memorandum on Loan Approval, Investment proposed without any analysis of the requirement/loan in violation of bank credit policy.
Loans are reportedly “diverted” to many companies and “Shell” (false) companies involved.
The agency also looks at some cases of loans provided to entities with weak funds, lack of proper loan documentation and proper care, debtors who have common addresses and common directors in their companies, etc., said sources.
The case of money laundering stems from at least two companies and CBI reports that share national housing, Sebi, the National Financial Office (NFRA) and Bank of Baroda with ED, said.
These reports indicate that the sources have stated that there has been a “well planned and thought program” to divert or avert public money by cheating banks, shareholders, investors and other public institutions.
The Union government recently reported that the state bank India classified RCOM together with Mr. Ambani as “fraud” and also in the process of filing a complaint with CBI.
Bank loan “fraud” of more than 1,050 GBP between RCOM and Canara Bank is also under the ED scanner, in addition to some “unpublished” accounts and assets of foreign banks and assets, sources said.
It is also reported that Reliance Mutual Fund has invested 2,850 GBP Crore in AT-1 bonds and the agency has a “quid for quo” suspicion of Mumbai.
The next level 1 (AT-1) is permanent bonds issued by banks to increase their capital base and are more risky than traditional bonds with higher interest rates. Under the agency scanner is also an alleged departure of the Credit Fund of about 10,000 Crore, including Reliance infrastructure.
Part of the ED probe is also a message of SEBI on RHFL.
The companies also stated in their submissions before the exchange of securities that Ambani was not on the board or Reliance Power infrastructure or Reliance and that they did not have a “commercial or financial connection” with RCOM or RHFL.
Companies have stated that any steps against RCOM or RHFL have no effect or impact on administration, management or operation of either strength or reliance.
Published – July 26, 2025 06:10
