Anil Ambani's Reliance Group Companies Under ED, CBI Scrutiny—Documents, Hard Drives Seized

The Enforcement Directorate (ED) intensified its scrutiny of companies linked to Anil Ambani’s Reliance Group, concluding a three-day search operation today, which began on 24 July. Multiple premises associated with Anil Ambani’s companies were thoroughly searched, and investigators have seized voluminous documents, hard drives, and other digital records from several locations across Mumbai and Delhi, sources told NDTV Profit.

The enforcement watchdog and the Central Bureau of Investigation (CBI) conducted a large-scale money laundering probe into the matter involving over Rs 24,000 crore, according to people in the know. Meanwhile, the CBI has begun its own inquiry into other companies within the Anil Ambani’s Reliance Group. A case is expected to be registered soon, sources told NDTV Profit.

The ongoing operation is part of a broader investigation into alleged financial irregularities, including possible diversion of funds, loan fraud, and money laundering. The ED’s probe is focused on whether funds from banks were routed through shell entities and misused by group firms.

The enforcement agency carried out operations at more than 35 premises connected to Ambani's Reliance Home Finance Ltd., (RHFL) covering around 50 companies and 25 individuals, the people said, adding that the searches were conducted under Section 17 of the Prevention of Money Laundering Act (PMLA).

The ED is examining if bribes were paid to the bank officials, including the founders of Yes Bank, and whether money was received by promoters even before loans were granted, sources said, adding that the agency is also looking into a significant rise in corporate loan disbursals by RHFL between April 2017 and March 2019. Funds from Yes Bank loans were allegedly further diverted to group and shell firms, they said.