**ED Raids Six Reliance Infrastructure-Linked Premises in Indore and Mumbai**
*By Chanshimla Varah | Sep 30, 2025 | 05:01 PM*
The Enforcement Directorate (ED) conducted raids at six locations linked to Anil Ambani’s Reliance Infrastructure in Mumbai and Indore on Tuesday. This action is part of an ongoing investigation into alleged illegal remittances under the Foreign Exchange Management Act (FEMA).
### Background of the Investigation
The ED’s probe focuses on several companies within the Ambani business group, with particular attention on Reliance Infrastructure. The company is accused of diverting loans amounting to over ₹17,000 crore.
### Details of the Probe
According to findings cited by the ED from a Securities and Exchange Board of India (SEBI) report, Reliance Infrastructure allegedly routed funds to other entities within the Reliance Group through inter-corporate deposits (ICDs). This has triggered concerns over possible financial irregularities and loan diversion.
### Expansion of the Investigation
As part of its wider investigation into the alleged loan fraud, the ED has summoned 39 banks. The agency has requested explanations regarding potential lapses in due diligence by these banks, especially in failing to flag suspicious loans or report defaults to regulatory authorities when borrowing entities began missing repayments.
In August, the younger Ambani had appeared before the ED in connection with a money laundering probe involving multiple fraud cases tied to several group companies.
### Reliance Group’s Response
The Reliance Group has strongly denied any wrongdoing. In an official statement, the company clarified that the allegation of diverting ₹10,000 crore to an undisclosed party pertains to a decade-old matter. They also stated that their actual exposure was approximately ₹6,500 crore.
The group further mentioned that through mandatory mediation proceedings conducted by a retired Supreme Court judge, and a mediation award filed before the Bombay High Court, Reliance Infrastructure has settled to recover its full exposure amounting to ₹6,500 crore.
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The investigation is ongoing, and further developments are awaited. This case underscores increased regulatory scrutiny on corporate governance and financial practices within large business conglomerates.
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