ED Raids Anil Ambani Group Companies Over Rs.3,000 Crore Loan Scam
The Enforcement Directorate (ED) on July 24, 2025, carried out an extensive operation, raiding over 35 premises across Mumbai and Delhi. These raids are linked to a money laundering case allegedly involving companies from the Reliance Anil Ambani Group. Around 50 companies and 25 people are under investigation.
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ED Probe Rooted in CBI FIRs and Inputs from Financial Institutions
The ED’s investigation stems from two FIRs filed by the Central Bureau of Investigation (CBI). Additionally, inputs from institutions like the National Housing Bank (NHB), Securities and Exchange Board of India (SEBI), National Financial Reporting Authority (NFRA), and Bank of Baroda have strengthened the case.
Rs.3,000 Crore Loan Diversion from Yes Bank Under the Scanner
Between 2017 and 2019, the ED uncovered alleged diversion of Rs.3,000 crore in loans from Yes Bank to companies in the Anil Ambani Group. Shockingly, money was funneled to concerns of Yes Bank promoters just before loans were sanctioned. This suspected quid pro quo is under detailed examination.
Fraudulent Practices in Loan Approvals by Yes Bank
The ED alleges that Yes Bank violated multiple protocols when approving loans to Reliance Anil Ambani Group firms. Credit Approval Memorandums (CAMs) were backdated, investments were cleared without due diligence, and several other breaches of credit policy were noted.
Shell Companies and Weak Financials Used to Divert Loans
According to the ED, loans were routed through shell companies and entities with weak financials. Many of these entities shared addresses and directors, lacked proper documentation, and failed to meet loan eligibility standards—indicating a deliberate attempt to siphon funds.
Allegations of Evergreening and Financial Misrepresentation
The ED has accused the firms of “evergreening” loans—extending new loans to repay old ones—and misrepresenting financials. In some instances, loans were disbursed even before being approved or on the very date of application, showcasing serious operational loopholes.
Surge in RHFL’s Corporate Loans Raises Suspicion
Reliance Home Finance Ltd (RHFL), a key Anil Ambani Group firm, witnessed a dramatic jump in corporate loans from Rs.3,742 crore in FY 2017-18 to Rs.8,670 crore in FY 2018-19. This unusual spike has prompted the ED to dig deeper into the company’s financial dealings.
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