The Enforcement Directorate on Thursday raided several premises linked to Reliance Communications promoter Anil Ambani, a month after the State Bank of India declared him ‘fraud’.
The raids were carried out at 35 locations in Mumbai and Delhi.
Enforcement Directorate conducts raid on properties linked to Anil Ambani in connection with alleged offence of money laundering by RAAGA companies (Reliance Anil Ambani Group Companies).
— ANI (@ANI) July 24, 2025
(Visuals from Reliance Centre in Mumbai) pic.twitter.com/IcXIXmNBGu
The central probe agency is investigating the money laundering charges linked to the Rs 3,000 crore bank loan fraud against Anil Ambani group companies and Yes Bank promoters.
The ED move came subsequent to recording of a First Inormation Report (FIR) by the Central Bureau of Investigation (CBI).
Other agencies and institutions such as the National Housing Bank, SEBI, National Financial Reporting Authority (NFRA) and Bank of Baroda also shared information with the ED.
The preliminary investigation has found illegal loan diversion from Yes Bank between 2017 and 2019, and that the bank promoters received money in their concerns just before the loan was sanctioned.
The probe agency has found a "well-planned and thought-out scheme to siphon off public money by cheating banks, shareholders, investors and other public institutions”, reported ANI.
"The offence of bribing bank officials including, promoter of Yes Banks Limited is also under scanner".
The SBI classified RCom and Anil Ambani as ‘fraud’ on June 13 and later lodged a complaint with the CBI.
Minister of State for Finance Pankaj Chaudhary informed the Lok Sabha on Monday that the SBI’s move was in accordance with the Reserve Bank of India's Master Directions on Fraud Risk Management and Bank's Board-approved Policy on Classification, Reporting & Management of Frauds.
The credit exposure of SBI in RCom includes, fund-based principal outstanding amount of Rs 2,227.64 crore along with the accrued interest and expenses with effect from August 26, 2016 and non-fund-based Bank Guarantee of Rs 786.52 crore, the minister said.
