**ED Raids 6 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).
### Investigation Focuses on Alleged Diversion of Loans
The ED’s probe centers on several companies within Ambani’s business empire, particularly Reliance Infrastructure. The company is accused of diverting loans worth over ₹17,000 crore. According to findings 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).
### Probe Expands with ED Summoning Banks
As part of the broader investigation into the alleged loan fraud, the ED has summoned 39 banks. The agency has requested explanations regarding possible lapses in due diligence, particularly whether the banks failed to flag suspicious loans or report them to regulatory authorities when borrowing entities began defaulting on repayments.
In August, Anil Ambani appeared before the ED in connection with a money laundering probe linked to multiple fraud cases involving several group companies.
### Reliance Group Denies Wrongdoing
The Reliance Group has denied all allegations of wrongdoing. The company issued a statement clarifying that the claim of diverting ₹10,000 crore to an undisclosed party pertains to a decade-old matter, with actual exposure amounting to around ₹6,500 crore.
Further, Reliance Infrastructure stated that it had settled its exposure of ₹6,500 crore through mandatory mediation proceedings conducted by a retired Supreme Court judge. The mediation award was subsequently filed before the Bombay High Court to recover the full amount.
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The investigation by the ED continues as further details emerge. We will keep you updated on any new developments.
https://www.newsbytesapp.com/news/business/ed-raids-6-reliance-infrastructure-linked-premises-in-indore-and-mumbai/story
