ED raids properties linked to Anil Ambani group as money laundering investigation expands
Mumbai: The Enforcement Directorate (ED) on Friday conducted raids at companies and premises associated with industrialist Anil Ambani and Reliance Power as part of its ongoing money laundering probe. According to officials, searches were carried out at around 10 to 12 locations early in the morning, with approximately 15 ED teams involved in the operation.
Officials said the action targets individuals and entities linked to Reliance Power Limited and forms part of the broader investigation into alleged financial irregularities involving companies under the Reliance Anil Ambani Group.
The development comes amid an ongoing probe related to alleged bank fraud cases connected to Reliance Communications Ltd (RCOM). Anil Ambani had been summoned by the ED for questioning on February 27, 2026, but did not appear before the agency on that date. However, he had earlier appeared at the ED headquarters in New Delhi on February 26, where he recorded his statement before investigators around 11 am.
The ED’s investigation is being conducted under the Prevention of Money Laundering Act (PMLA). As part of the probe, the agency recently attached Ambani’s Mumbai residential property “Abode” in Pali Hill, valued at ₹3,716.83 crore. This followed an earlier partial attachment of ₹473.17 crore related to the same property. According to officials, the cumulative value of assets attached in connection with the Reliance Anil Ambani Group has now crossed ₹15,700 crore.
The investigation originates from a Central Bureau of Investigation (CBI) First Information Report that includes charges under sections 120-B, 406, and 420 of the Indian Penal Code, along with provisions of the Prevention of Corruption Act. The case involves allegations that RCOM and its group companies obtained loans from domestic and foreign lenders totalling ₹40,185 crore between 2010 and 2012.
Authorities allege that a significant portion of the loans was diverted in violation of lending conditions. Investigators claim that more than ₹13,600 crore was used for loan evergreening, ₹12,600 crore was routed to related parties, and around ₹1,800 crore was invested in fixed deposits and mutual funds before being liquidated and rerouted.
Minister of State for Finance Pankaj Chaudhary previously informed Parliament that the State Bank of India had classified RCOM and Anil Ambani as “fraudulent” under Reserve Bank of India guidelines. The bank is also preparing to file a complaint with the CBI.
Investigators have also examined allegations involving the diversion of funds through inter-corporate deposits by Reliance Infrastructure. The ED cited information from the Securities and Exchange Board of India indicating that funds were routed to group entities through an undisclosed related party referred to as “C Company,” which was allegedly not disclosed to shareholders or audit committees.
The probe has also extended to alleged investment transactions involving Additional Tier-1 bonds of YES Bank worth ₹2,850 crore by Reliance Mutual Fund. According to investigators, the bonds were later written down, resulting in losses for mutual fund investors.
In related action last year, the ED attached more than 132 acres of land in Dhirubhai Ambani Knowledge City in Navi Mumbai valued at ₹4,462.81 crore as part of bank fraud investigations involving RCOM, Reliance Commercial Finance Ltd, and Reliance Home Finance Ltd.
Officials said the agency is also examining possible undisclosed foreign bank accounts and overseas assets linked to the investigation. The ED has reiterated that the probe is aimed at tracing and recovering the proceeds of alleged financial crimes while ensuring accountability in large-scale loan fraud cases.
(With ANI inputs)