Friday morning brought a big stir for the Indian corporate world. Enforcement Directorate (ED) teams suddenly raided several locations linked to industrialist Anil Ambani and his company Reliance Power Limited. According to media reports, intensive search operations are being conducted at about 10 to 12 different places. The target of the investigating agency is mainly the residential and registered offices of Reliance Power and its associated people. However, no official statement has come from the ED yet. But initial indications show that this entire exercise is being done to thoroughly investigate some suspicious transactions and huge fund transfers related to Reliance Power.
How did the heat of investigation reach this point?
The roots of the entire controversy are related to the loan related to Reliance Communications (RCom), which was taken from many other financial institutions including State Bank of India (SBI) and Yes Bank. The allegations are very serious. It is being said that the money taken as loan from these banks was diverted to other related institutions and foreign accounts, disregarding the rules. The matter is not limited to indigenous banks only. In this case, a huge risk of Rs 13,558 crore related to Chinese government banks has also been revealed. This money laundering investigation is based on a CBI FIR registered in the year 2019. Following the strict and clear instructions of the Supreme Court, ED has constituted a Special Investigation Team (SIT), which is now unraveling the layers of this entire case.
constantly tightening screws
This pressure from the investigating agencies has not increased suddenly recently. Just last month, i.e. in February 2026, ED took a strict step and temporarily attached Anil Ambani’s luxurious house ‘Abode’ in Mumbai. The estimated price of this luxurious bungalow is estimated to be around Rs 3,500 crore. This major action was part of the same Rs 40,000 crore bank fraud case related to RCom, the investigation of which has been going on for a long time. With this seizure, the total number of assets of Ambani Group seized so far has crossed Rs 15,700 crore.