The Enforcement Directorate (ED) has summoned Anil Ambani, Chairman of the Reliance Group, for questioning on August 5, 2025, in connection with an alleged loan fraud case involving approximately ₹17,000 crore. This summons follows searches conducted at multiple locations linked to the Reliance Group.

The ED's investigation revolves around alleged financial irregularities and the diversion of loan funds exceeding ₹10,000 crore by several companies within the Anil Ambani Group. These searches, initiated on July 24, 2025, spanned over 35 premises in Mumbai, encompassing 50 companies and 25 individuals, including key executives of the Anil Ambani Group.

Sources within the ED indicate that the investigation primarily focuses on the alleged illegal diversion of around ₹3,000 crore in loans granted by Yes Bank to Anil Ambani's group companies between 2017 and 2019. The agency is scrutinizing whether there was a "quid pro quo" arrangement involving bribes paid to Yes Bank officials, including its promoters.

The ED is also probing potential "gross violations" in how Yes Bank approved loans to these companies. This includes allegations of backdated credit approval memorandums and investments proposed without proper due diligence or credit analysis, which would violate the bank's established credit policy.

In addition to the Yes Bank loans, the ED is examining a bank loan "fraud" of over ₹1,050 crore between Reliance Communications (RCOM) and Canara Bank. The agency is also investigating "undisclosed" foreign bank accounts and assets potentially linked to the case. There are also suspicions regarding Reliance Mutual Fund's investment of ₹2,850 crore in AT-1 bonds, with the ED investigating a possible "quid pro quo" in this transaction.

According to sources, the Union government had informed Parliament that the State Bank of India (SBI) has classified RCOM and Anil Ambani as "fraudulent" and is in the process of filing a complaint with the Central Bureau of Investigation (CBI).

Reliance Power and Reliance Infrastructure, two companies within the group, have acknowledged the ED's actions but stated that the raids had "absolutely no impact" on their business operations, financial performance, shareholders, employees, or any other stakeholders. They further clarified that the media reports appeared to concern transactions of Reliance Communications Limited (RCOM) or Reliance Home Finance Limited (RHFL), which are over 10 years old.

The Securities and Exchange Board of India (SEBI) has also shared findings from its investigation into the alleged diversion of ₹10,000 crore by Reliance Infrastructure to Reliance Group units through an undisclosed related party.