ED Raids Reliance Infrastructure Linked To Anil Ambani, Probes 17,000 Crore Financial Diversion Case

Business News: The Enforcement Directorate carried out surprise searches on Tuesday. Officials raided six locations in Mumbai and Indore. These places were linked to Reliance Infrastructure. The raids are part of a foreign exchange law probe. ED suspects that funds were moved abroad illegally. The searches lasted several hours across both states. Sources confirm it is one of the biggest actions against the group.

What ED is investigating

The ED is probing charges under money laundering laws. Reliance Infrastructure and other Ambani group companies are accused of loan diversion worth over ₹17,000 crore. These actions come after reports from SEBI. The allegations include using a firm called CLE for hidden transfers. Money was allegedly shifted as inter-corporate deposits. Officials say shareholders were not informed of related party dealings. This created major compliance violations.

SEBI report raises concerns

According to SEBI, Reliance Infrastructure hid critical details. CLE was not disclosed as a related party. This helped the company bypass board and shareholder approvals. Such practices, if proved, break corporate governance norms. Illegal fund transfers weaken investor trust. ED believes funds were shifted into Reliance Group firms. The money trail now points to serious irregularities. It has widened the investigation further.

Company issues clarification statement

Reliance Infrastructure strongly denied wrongdoing. The company called the charges old and exaggerated. It said exposure was only about ₹6,500 crore, not ₹10,000 crore. Six months ago, the company disclosed details publicly. It informed that arbitration proceedings had settled the matter. The firm claimed it was assured of full recovery. Reliance officials maintain everything was legally documented. The company insists it is cooperating with authorities.

Anil Ambani questioned earlier

Last month, Anil Ambani himself was called for questioning. He was grilled for nearly ten hours by ED officers. He answered about a dozen questions in Delhi. Ambani denied all wrongdoing during his statement. He said financial decisions were taken by company executives. He also insisted regulators were updated regularly. Ambani has not been part of R Infra’s board since 2022. His distancing from operations is now being highlighted.

Legal battles continue ahead

The case is now moving into deeper legal phases. Arbitration and High Court proceedings remain key to Reliance Infrastructure’s defense. ED is expected to file further reports soon. If charges hold, penalties may be severe. Corporate accountability is also being tested through this probe. Investors are keeping a close watch on outcomes. The matter has already shaken corporate circles across Mumbai.

Larger impact on business world

This case shows growing scrutiny on big corporates. ED’s focus highlights how financial laws are tightening. Ambani’s group faces serious challenges to restore credibility. The investigation may affect upcoming projects and partnerships. Observers say the probe could drag on for years. For now, Reliance Infrastructure remains under the scanner. The final outcome may reshape its financial future.