Unapproved Loan Transfer Uncovered in Anil Ambani's Case, Report Alleges Based on Informed Sources
Union Minister of State for Finance Pankaj Chaudhary has confirmed that the State Bank of India (SBI) has classified Reliance Communications and Anil Ambani under the fraud category under the guidelines of the Reserve Bank of India. This announcement comes amidst ongoing investigations into a significant bank loan fraud case worth approximately Rs 17,000 crore.
The Enforcement Directorate (ED) has taken the lead in investigating this matter under the Prevention of Money Laundering Act (PMLA). On August 5, 2025, Anil Ambani has been summoned to the ED's Delhi headquarters for questioning.
The alleged fraud involves manipulation of loans from YES Bank, use of fake bank guarantees, diversion of funds to shell companies, and violations of credit approval norms, primarily in connection with Anil Ambani’s Reliance Group entities.
Between 2017 and 2019, it is alleged that YES Bank diverted approximately Rs 3,000 crore in loans to shell companies, suggesting money was siphoned off through fake or non-operational firms connected to Ambani's group.
In one such racket, fake bank guarantees amounting to around Rs 68.2 crore were used by Ambani-linked companies (Reliance NU BESS and Maharashtra Energy Generation) to win government contracts. The guarantees were issued by Odisha-based shell companies using spoofed email domains, leading to the Solar Energy Corporation of India (SECI) banning Reliance Power and affiliates from bidding for three years.
Furthermore, it has been discovered that Ambani’s firm generated fake commission bills and had multiple undisclosed bank accounts with suspicious cash flows involving crores of rupees. The financial condition of the companies that received the loan was also poor.
The ED has conducted extensive raids at around 35 locations linked to Ambani’s group, covering 50 companies and 25 individuals. These searches were carried out in Odisha and Kolkata, connected to the issuance of fake bank guarantees against an 8% commission.
In a separate case, Reliance Communications faces allegations of committing a Rs 1,050-crore fraud, this time on Canara Bank. The Securities and Exchange Board of India (SEBI) has also given its report to the ED in cases related to Reliance Home Finance Ltd.
It is important to note that the information provided here is based on the facts presented in the bullet points and does not include any opinions or unrelated information. This article aims to provide a clear and concise summary of the ongoing bank loan fraud case involving Anil Ambani and various Reliance Group companies.
The Enforcement Directorate (ED) is pursuing investigations into a bank loan fraud case revolving around Anil Ambani and various Reliance Group companies, which has been subject to numerous allegations such as manipulation of loans, use of fake bank guarantees, diversion of funds, violations of credit approval norms, and the issuance of fake bank guarantees against an 8% commission. Concurrently, the Securities and Exchange Board of India (SEBI) has given its report to the ED in cases related to Reliance Home Finance Ltd. These investigations are conducted under the Prevention of Money Laundering Act (PMLA), with Anil Ambani summoned for questioning on August 5, 2025, at the ED's Delhi headquarters. The general-news surrounding this case also involves the crime-and-justice sector due to the magnitude of financial irregularities and the potential implications for various businesses and finance institutions involved.
