ED Raids 35 Locations Linked to Anil Ambani Group in ₹3,000 Crore Yes Bank Loan Fraud Case, Check Details

In a major crackdown, the Enforcement Directorate (ED) on Thursday conducted searches at over 35 premises linked to companies associated with industrialist Anil Ambani as part of a money laundering investigation into an alleged ₹3,000 crore bank loan fraud.

In this regard, over 35 premises, 50 Companies and over 25 persons are covered in a search operation launched today by the ED under section 17 of the Prevention of Money Laundering Act: Official Sources

— ANI (@ANI) July 24, 2025

The searches were carried out under Section 17 of the Prevention of Money Laundering Act (PMLA) and focused on around 50 companies and more than 25 individuals. These include entities from the Reliance Anil Dhirubhai Ambani Group (ADAG), with key operations based in Mumbai and Delhi.

According to sources, the probe is centered on suspected loan diversion from Yes Bank between 2017 and 2019. The ED suspects that certain loans extended by the bank were misused, with proceeds allegedly laundered through a web of shell companies.

Key Findings and Allegations:

The ED is examining whether public funds were siphoned off through a well-orchestrated scheme.

Authorities are also investigating potential bribes paid to Yes Bank officials before loan sanctions.

The agency is scrutinizing the authenticity of financial documents, many of which appear to have been backdated or lack proper due diligence.

The search operation follows intelligence inputs and earlier cases registered by the Central Bureau of Investigation (CBI). The ED has also been working in coordination with the National Housing Bank, SEBI, Bank of Baroda, and the National Financial Reporting Authority (NFRA).

Shares of Anil Ambani-linked firms, including Reliance Infrastructure and Reliance Power, saw a decline of nearly 4% following news of the raids.

Broader Implications:

The latest ED action highlights the growing scrutiny over financial irregularities in the corporate sector, especially in cases linked to high-value loan defaults. It also signals the government’s continued focus on tightening anti-money laundering frameworks and holding influential corporate entities accountable.

The ED has not yet issued an official statement on the findings, but further arrests or summons are expected in the coming weeks as investigations deepen.