ED Concludes Raids on Anil Ambani Led Reliance Power & Reliance Infrastructure in Money Laundering Probe

The Enforcement Directorate (ED) has officially completed its three-day-long search operations across all premises linked to Anil Ambani's Reliance Group companies, Reliance Power and Reliance Infrastructure as part of an ongoing investigation into an alleged money laundering case amounting to over Rs 24,000 crore.

ED Raids on Anil Ambani Led Reliance Power and Reliance Infrastructure

The raids began on Thursday, July 24, and continued until Saturday, July 26, across more than 35 locations in Mumbai and Delhi. The action falls under the Prevention of Money Laundering Act (PMLA) and reportedly pertains to an earlier case involving a Rs 3,000 crore loan fraud linked to Yes Bank.

Reliance Group Responds: No Link to RCom or RHFL

Following the conclusion of the ED's actions, Reliance Power and Reliance Infrastructure issued a formal statement on Sunday, stating that the agency had ended its searches and confirming that "the company and all its officials have fully cooperated and will continue to cooperate with the authority."

In their filing to the National Stock Exchange (NSE), the companies clarified that the ED probe was not related to their ongoing operations but to allegations involving Reliance Communications (RCom) and Reliance Home Finance Ltd (RHFL). Both companies emphasized that they have no business or financial association with either RCom or RHFL.

"Reliance Power and Reliance Infrastructure are separate, independent listed entities," the company said. "Allegations concerning RCom and RHFL are not connected to us in any operational or financial capacity."

Anil Ambani Not on Boards of Either Entity

The companies also disclosed that Anil Dhirubhai Ambani, who previously headed several ADAG (Anil Dhirubhai Ambani Group) companies, is not on the board of Reliance Power or Reliance Infrastructure. He resigned from RCom in 2019 and currently holds no governance, management, or operational role in any listed Reliance Group company.

This clarification was issued to distinguish the entities under investigation from the currently listed companies and reassure investors of no direct legal or financial implications from the probe.

What the ED Found?

According to reports, the ED recovered multiple documents, digital records, and computer peripherals during the search operations. These materials will now be scrutinized as part of the wider investigation into alleged fund misappropriation, back-dated loan approvals, and regulatory lapses involving the now-defunct Reliance Communications and other linked entities.

Rs 3,000 Crore Yes Bank Loan Probe Connection

The current probe by the ED is linked to a larger financial investigation involving Yes Bank and loans extended to various firms, including those formerly led by Anil Ambani. The Rs 3,000 crore loan fraud is part of a broader Rs 24,000 crore case that includes alleged misappropriation, round-tripping of funds, and diversion through shell companies.