Ed Raids Against Reliance Infra: The Enforcement Directorate (ED) has taken major action on Reliance Infrastructure (R-Infra), a company of Anil Ambani Group. On Tuesday, ED raided six places from Mumbai to Indore. This action is part of the ongoing investigation under the Foreign Exchange Management Act (FEMA), in which the company has been accused of illegal funds abroad.

What is the case?

1. The ED is already investigating loans of more than Rs 17,000 crore in Reliance Infra and other companies of the group under the Prevention of Money Laundering Act (PMLA).
2. A SEBI report alleged that R-Infra used money as an inter-corporate deposit (ICD) in other companies of Reliance Group through a company called Cle.
3. It is alleged that the company did not reveal CLE as a “concerned party” so that the approval of shareholders and audit panels could be avoided.

Company rescue

The Reliance Group has dismissed these allegations. The company says that:

• The case of about Rs 10,000 crore is about 10 years old.
• The actual risk of the company was only Rs 6,500 crore, which it had already made public in its financial statements.
• The matter was disclosed by the company on 9 February 2025.
• R-Infra claims that it has reached the agreement through compulsory arbitration proceedings and petition filed in Bombay High Court to recover this entire risk.

Anil Ambani’s status

The company has made it clear that Anil Ambani has not been included in the R-infra board since March 2022 and has no direct role for more than three years. Overall, this action of ED has increased the pressure on Reliance Infra. In the coming time, the investigation can deepen the difficulties of the company and Anil Ambani group.

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Rom loan fraud: Industrialist Anil Ambani’s bankrupt company Reliance Communications has been described as a fraud by SBI. Giving information about this in a letter filed in the stock exchange, SBI said that RCom wrongly transferred the approved loan money to other companies. Due to which it has misused the invoices related to inter company transactions and sales.

Anil Ambani’s lawyer reply to SBI

Anil Ambani’s lawyer has written a letter to SBI, strongly opposing Reliance Communications for calling the loan account a fraud. The letter written on 2 July 2025 states that this move of SBI has also violated the guidelines of RBI and court directions.

In a information sent by Reliance Communications to the stock market on Wednesday, he said that SBI is classifying his loan account as fraud, citing alleged sending money to another place in a 2016 case. Anil Ambani’s lawyer said that SBI’s order to call RCom’s loan account a fraud is shocking and unilateral and also violates the principles of Natural Justice.

RBI guidelines violation

Anil Ambani’s lawyer said that the SBI order is a direct violation of the RBI guidelines with various decisions of the Supreme Court and the Mumbai High Court. In the letter, Anil Ambani’s lawyer further said that SBI has not responded to Ambani’s communication about the invalid of show cause notice for about a year. Along with this, the lawyer said that SBI has not even given an opportunity for personal hearing to Ambani to present arguments against his allegations. He said that Ambani is taking forward the matter as per legal advice.

It is worth noting that before SBI, Canara Bank had also argued the Lone Account of RCom as a fraud account. In this, he had sent the reason for sending loan money to connected parties and inter company transactions.

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