October 1, 2025
NEW DELHI – The Enforcement Directorate (ED) on Tuesday conducted raids on six premises of the Anil Ambani-linked Reliance Infrastructure (RInfra) in Indore and Mumbai, as part of its probe into alleged illegal remittances abroad, violating the Foreign Exchange Management Act (FEMA) and loan diversion, amounting to over Rs 17,000 crore, according to an official statement.
However, it is not known if any seizures have been made so far during the raids.
The latest raid came after the ED pointed to the findings of a recent SEBI report and alleged that RInfra funneled funds to other Reliance Group entities under the pretext of inter-corporate deposits (ICDs).
These transactions were allegedly routed through a company named CLE, which according to the ED was not disclosed as a “related party” by RInfra. According to the ED, this was an alleged move intended to circumvent mandatory shareholder and audit committee approvals.
It may be recalled that, back in August, Anil Ambani had appeared before the ED in connection with a money laundering investigation linked to multiple fraud cases involving several group companies. He was summoned to the ED headquarters in New Delhi, where his statement was recorded under provisions of the Prevention of Money Laundering Act (PMLA).
The ED had also approached 39 banks, seeking clarification on potential lapses in due diligence, as part of its broader probe into the alleged loan fraud.
The ED raised questions about why lenders and banks failed to flag these loans as ‘suspicious’ or report them to regulators after the borrowing entities began defaulting on repayments.
Earlier, on September 11, the Central Bank Of India had issued a show cause notice to Anil Ambani-linked Reliance Communications (RCom), asking the company to present reasons why its account must not be treated as “fraud”.
According to the bank’s notice, the outstanding amount comprises a Rs 280 crore term loan availed by RCom, Rs 20 crore term-loan facility provided to Reliance Telecom (RTL), and a Rs 100-crore performance bank guarantee furnished to RTL.
The ED had earlier registered a case against RCom for an alleged Rs 2,929 crore loan fraud with the State Bank of India (SBI).