ED Raids Mumbai Properties Linked To Anil Ambani

(MENAFN- Live Mint) Enforcement Directorateon Thursday raided several premises in Mumbai linked to Anil Ambani days after SBI declared him 'fraud'. Around 35 premises, 50 Companies and over 25 persons are being searched under PMLA.

ED sources said, as reported by ANI, subsequent to recording of FIRs by CBI , ED started investigating the alleged offence of Money Laundering by RAAGA Companies (Reliance Anil Ambani Group Companies). Other agencies & institutions also shared information with ED, such as- The National Housing Bank, SEBI, National Financial Reporting Authority (NFRA), Bank of Baroda .

“Preliminary investigation by ED has revealed well-planned and thought after scheme to divert/ siphon off public money by cheating banks, shareholders, investors and other public institutions. The offence of bribing bank officials including Promoter of Yes Banks Limited is also under scanner.”

“Probe also reveals alleged illegal loan diversion of around ₹3000 crore from Yes Bank (period 2017 to 2019). ED has found that just before the loan was granted, the Yes Bank promoters allegedly received money in their accounts. ED is investigating this nexus of bribe and loan. ED has found gross violations in Yes Bank loan approvals to RAAGA companies, such as, Credit Approval Memorandums (CAMs) were back-dated, Investments were proposed without any due diligence/ credit analysis in violation of Banks Credit Policy inter alia”

“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,” sources further claim.

State Bank of India has classified Reliance Communications along with promoter director Anil D Ambani as 'fraud' and is also in the process of lodging complaint with CBI, Parliament was informed on Monday, as reported by PTI.

The entities were classified as fraud on June 13, 2025 in accordance with the RBI's Master Directions on Fraud Risk Management and Bank's Board-approved Policy on Classification, Reporting & Management of Frauds, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Lok Sabha.

"On June 24, 2025, the bank reported classification of fraud to RBI, and is also in the process of lodging complaint with CBI," he said.

Further, on July 1, 2025, as part of disclosure compliance, Resolution Professional of RCom informed the Bombay Stock Exchange regarding fraud classification by the bank.

The credit exposure of SBI in RCom includes, fund-based principal outstanding amount of ₹2,227.64 crore along with the accrued interest and expenses with effect from August 26, 2016 and non-fund based Bank Guarantee of ₹786.52 crore, he said.

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