Mumbai: Enforcement Directorate (ED) officials on Friday conducted searches at multiple premises linked to companies associated with Anil Ambani as part
of an ongoing probe into alleged financial irregularities and money laundering cases, said officals. According to officials, around 15 ED teams carried out the raids early in the morning across 10 to 12 locations, primarily in Mumbai. Sources said the searches are being conducted against individuals and entities linked to Reliance Power and other firms associated with the businessman. The development comes amid multiple investigations involving companies linked to Ambani. Earlier, the Central Bureau of Investigation (CBI) had registered a banking fraud case worth over Rs 2,200 crore against Reliance Communications. Also Read: ED Attaches Anil Ambani's 'Abode' Worth Rs 3,716 Crore in PMLA Case Just last week, Ambani was questioned by the Enforcement Directorate for more than 10 hours in connection with a Rs 40,000-crore banking fraud case related to loans extended by State Bank of India and other lenders. However, officials said he did not appear for questioning in a separate money-laundering investigation linked to loans from Yes Bank. In the course of the probe, the ED has also provisionally attached assets linked to Ambani, including a residential property valued at around Rs 3,761 crore. Officials said the total value of attached assets in the case has reached nearly Rs 15,000 crore. The agency said the attached assets would eventually be restituted to claimant banks after completion of the legal process. Investigations in the case are ongoing.
What Is The Case Against Anil Ambani?
In December 2025, the Enforcement Directorate had examined Yes Bank founder Rana Kapoor in the money laundering investigations involving the Anil Ambani Group of Companies and loans given to them by Yes Bank when Rana Kapoor was Yes Bank CEO, sources said.
Rana Kapoor is the founder of Yes Bank. In March 2021, ED arrested Kapoor for granting huge loans to the defunct DHFL.
Sources said Rana Kapoor and Anil Ambani allegedly entered into a "quid-pro-quo" arrangement that resulted in significant losses for Yes Bank.
While Rana Kapoor was at the helm of Yes Bank, Yes Bank had significant exposure of about Rs 6000 crore to Reliance Anil Ambani Group (ADAG Group) as of March 31, 2017, and exposure doubled to Rs 13,000 crore as of March 31, 2018.
During this time, the bank invested over Rs 5,000 in Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL) which were ADAG Group Companies.
A large portion of these investments turned into Non-Performing Investments (NPI).
The bank subsequently suffered a loss of approximately Rs 3300 crore from these dealings.
These were not standard business transactions but a "quid pro quo." In exchange for Yes Bank's investments,
ADAG companies granted loans to firms controlled by Rana Kapoor's family members.
Rana Kapoor & Anil Ambani held private business meetings, often without other Yes Bank officials present, to agree on these illegal arrangements.
Rana Kapoor then instructed Yes Bank officers to process the non-genuine proposals.
Reliance Power and the Anil Dhirubhai Ambani Group of Companies have not reacted to the latest ED raids.
