ED Raids Over 35 Anil Ambani-Linked Premises in ₹3,000 Crore Probe

ED Raids 35+ Anil Ambani-Linked Sites in ₹3,000 Cr Yes Bank Fraud Case, 50+ Firms and 25 Individuals Under Probe

On July 24, the Enforcement Directorate launched a high-stakes operation across Mumbai and Delhi. It raided over 35 locations, targeting properties linked to Anil Ambani’s companies. The raids are part of an ongoing probe into a ₹3,000 crore loan fraud, where funds sanctioned by Yes Bank between 2017 and 2019 were allegedly diverted through shell companies, using fake documents and suspected bribery.

This coordinated operation follows multiple alerts and inputs from agencies including the CBI, SEBI, National Housing Bank, NFRA, and Bank of Baroda. The ED is probing whether loans sanctioned by Yes Bank to Anil Ambani’s group were illegally diverted using shell firms, fake documents, and insider arrangements.

Bribe-for-Loan Links Under ED Lens

Investigators claim that a close link between Yes Bank officials and Ambani’s companies allowed loan approvals despite serious violations. Evidence suggests that Yes Bank promoters allegedly received payments shortly before loans were granted. These transactions raised red flags and hinted at a possible bribe-for-loan arrangement.

Credit memos were reportedly backdated, bypassing essential due diligence. In several cases, loans were issued to firms with poor financial health, shared directors, and fake addresses. Funds were then routed through a web of group companies, undermining transparency and violating RBI’s loan norms.

SBI Labels Fraud, Sparks CBI Action

This crackdown also comes weeks after the State Bank of India declared Reliance Communications and Anil Ambani as "fraud" under RBI guidelines. SBI’s reported exposure includes over ₹2,200 crore in loans and ₹786 crore in guarantees, triggering further investigation by CBI.

The ED’s case builds on CBI’s FIRs and independent reviews from SEBI and NHB. One such SEBI report flagged a steep rise in corporate loans issued by Reliance Home Finance—from ₹3,700 crore to over ₹8,600 crore in just one year. Authorities suspect that these surging disbursements were part of a larger scheme to funnel public money away from sanctioned purposes.

Over 50 Firms and Individuals Under Scanner

While Anil Ambani’s residence was not raided, over 50 firms and 25 individuals linked to his group are now under scrutiny. Reliance Infrastructure, a listed company once linked to Ambani, distanced itself, stating it has no financial or operational ties to RCom or RHFL, and that these companies are undergoing insolvency proceedings.

The investigation promises to become one of the more complicated financial probes in recent years. If proven, this case might well become a landmark in resetting what attains to oversight norms in corporate lending, thereby alerting all persons engaged in blatantly exploiting the risk of bank-corporate relations.