- India,
- 30-Sep-2025 06:08 PM IST
Anil Ambani News: On Tuesday, September 30, 2025, the Enforcement Directorate (ED) conducted raids in Maharashtra and Madhya Pradesh as part of an ongoing Foreign Exchange Management Act (FEMA) investigation against Anil Ambani Group company Reliance Infrastructure. Agency sources said the raids were conducted at at least six premises in Mumbai and Mhow, Indore. The raids are related to allegations of illegal remittances abroad.Scope of InvestigationThe central investigating agency, ED, is already investigating alleged financial irregularities at several of Anil Ambani's companies, including Reliance Infrastructure (R Infra), under the Prevention of Money Laundering Act (PMLA). The investigation focuses on the "diversion" of collective loans worth over ₹17,000 crore.The action was initiated based on a SEBI report alleging that R Infra illegally diverted funds to other Reliance Group companies in the form of inter-corporate deposits (ICDs) through a company called CLE. Furthermore, it was claimed that R Infra did not declare CLE as its "related party," thereby avoiding approval from shareholders and the audit panel.Reliance Infrastructure's StandReliance Group has denied these allegations. In its statement, the company said that the alleged misappropriation of ₹10,000 crore is nearly a decade old. The company had clarified in its financial statements that its actual exposure was only ₹6,500 crore.On February 9, 2025, Reliance Infrastructure publicly disclosed the matter, stating, "Through mandatory arbitration proceedings conducted under the chairmanship of a retired Supreme Court judge and an arbitration filed in the Bombay High Court, the company has reached an agreement to recover its full exposure of ₹6,500 crore." The company also clarified that Anil Ambani will not be associated with the board of R Infra from March 2022.Anil Ambani Questioned
Last month, in August 2025, the Enforcement Directorate (ED) questioned Anil Ambani for 10 hours in connection with the alleged bank loan fraud and money laundering case against Reliance Group companies. Ambani was asked nearly a dozen questions during the interrogation, which began at 11 am at the ED office in Delhi, and his statement was recorded under the PMLA.During the interrogation, Anil Ambani denied any wrongdoing and claimed that his companies had timely disclosed their financial positions to regulators. He also stated that all financial decisions related to the company were taken by the relevant senior officials.The Way ForwardThis raid and investigation could mark a turning point for Reliance Infrastructure, as the ED's actions could have a profound impact on the company's financial credibility and operations. The next steps in this case and the outcome of the investigation will be crucial not only for the Reliance Group but also for the Indian corporate sector.
Last month, in August 2025, the Enforcement Directorate (ED) questioned Anil Ambani for 10 hours in connection with the alleged bank loan fraud and money laundering case against Reliance Group companies. Ambani was asked nearly a dozen questions during the interrogation, which began at 11 am at the ED office in Delhi, and his statement was recorded under the PMLA.During the interrogation, Anil Ambani denied any wrongdoing and claimed that his companies had timely disclosed their financial positions to regulators. He also stated that all financial decisions related to the company were taken by the relevant senior officials.The Way ForwardThis raid and investigation could mark a turning point for Reliance Infrastructure, as the ED's actions could have a profound impact on the company's financial credibility and operations. The next steps in this case and the outcome of the investigation will be crucial not only for the Reliance Group but also for the Indian corporate sector.