The Enforcement Directorate (ED) has initiated a sweeping money-laundering investigation by raiding more than 35 premises and over 50 entities tied to Anil Ambani’s Reliance Group. These actions are connected to the alleged ₹3,000 crore loan fraud at Yes Bank, with operations spanning key Indian cities—including Mumbai and Delhi—conducted earlier today, July 24, 2025.
Investigators suspect a “well-planned scheme” orchestrated between 2017 and 2019, involving loans disbursed to weak or shell companies while skipping standard due diligence. The probe alleges officials from Yes Bank received bribes just before clearing loan applications—sometimes even backdating approvals—allowing funds to siphon off into various group-linked or front entities.
The ED’s case builds upon two earlier CBI investigations and incorporates inputs from NHB, SEBI, NFRA, and Bank of Baroda. Patterns identified include common directors/addresses among borrower firms, inadequate documentation, instances of evergreening, and loans being disbursed prematurely.
Shareholders reacted negatively: shares of Reliance Infrastructure and Reliance Power fell up to 4–5% on Thursday following the raids.
In response, both companies issued statements affirming full cooperation with authorities, denying any illicit activity, and insisting that all operations were conducted in accordance with legal and regulatory frameworks.
Reference is taken from here