Anil Ambani ED Raid
Anil Ambani ED Raid: The Enforcement Directorate (ED) conducted raids across 35 locations tied to Anil Ambani’s Reliance Group in connection with a ₹3,000 crore bank fraud and money laundering probe. Reliance Power has issued a statement claiming full cooperation and denying any wrongdoing.
Image: The Economics Times
ED Launches Massive Raids in ₹3,000 Crore Loan Fraud Probe
35 Locations Targeted in Nationwide Crackdown
In a sweeping action against alleged financial misconduct, the Enforcement Directorate (ED) raided 35 sites connected to Anil Ambani’s Reliance Group. The agency is investigating a ₹3,000 crore bank loan fraud under the Prevention of Money Laundering Act (PMLA).
The ED believes the group diverted funds sanctioned by Yes Bank, possibly using shell companies. This high-profile investigation reflects the agency’s growing focus on economic offenses involving prominent business figures.
Reliance Power Responds to Allegations
Shortly after the raids began, Reliance Power issued a statement asserting its full cooperation. The company also rejected the allegations and reaffirmed its commitment to lawful business practices.
“We are cooperating fully with the authorities. The claims made are false and misleading,” said a Reliance Power spokesperson.
Yes Bank’s Link to the Case
Yes Bank, which issued large loans to multiple companies in the Anil Dhirubhai Ambani Group (ADAG), sits at the center of the case. Investigators allege that the funds did not go toward their approved uses. Instead, they may have been routed through intermediaries to mask their actual destination.
This suspected misuse has raised serious concerns about lending transparency and risk assessment at the bank.
Market Reactions and Political Commentary
The news triggered minor fluctuations in Reliance Group stocks, with investors showing cautious optimism. Experts noted that regulatory pressure could impact the group’s restructuring efforts.
Meanwhile, opposition leaders criticized the timing of the ED’s move, claiming it might be politically motivated. However, others welcomed the action as a necessary step toward corporate accountability.
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Next Steps in the Investigation
The ED is now analyzing seized digital evidence and financial documents to determine whether any laws were broken. If officials uncover concrete proof of laundering, criminal charges may follow.
Reliance Power has maintained its position, claiming it adheres strictly to legal and regulatory standards. It also continues to extend support to the investigating team.
