Anil Ambani
The Reliance Group has recently clarified the media reports regarding the investigation launched by the Enforcement Directorate (ED). The group has said that these allegations are about 8 years old and some transactions related to Reliance Home Finance and Yes Bank are being talked about. Regarding this, its side has been kept in detail by Reliance Group, about which we are telling you here.
3000 crore loan will be abused
Initial investigation of ED has revealed that between 2017 and 2019, a loan of about ₹ 3000 crore was allegedly misused from Yes Bank. The investigation has also revealed that just before the loan was approved, various companies of the promoters of Yes Bank received funds.
Reliance said in his favor that the loans given to private companies associated with Yes Bank’s promoter by Reliance Home Finance Limited (RHFL) were given after the acceptance of the Credit Committee, under the entire process. All these loans were completely safe and they have been completely repaid with principal and interest. Currently there is no arrears.
Loan disturbances given to Raaga Group
The ED has also alleged that the loan given to the RAAGA Group had huge irregularities. Investment proposals in violation of the bank’s credit policy were done without proper investigation, CAMS (Credit Approval Memorandum) was backdated and the loan amount was diverted in many shell companies.
On this allegation, it was said by Reliance Group that, the loan given by Yes Bank to Reliance Group was given under the process. All transactions were made entirely by following laws, rules and financial parameters. Whatever exposure of the bank on Reliance Group companies was completely safe.
Sebi made these allegations
SEBI has also shared some conclusions related to RHFL with ED. In the financial year 2017-18, where the corporate loan of RHFL was ₹ 3,742.60 crore, it increased to ₹ 8,670.80 crore in 2018-19. In this, many things like fast approval, disturbances in the process are being investigated.
On SEBI’s allegations, the Relance Group said that an order was passed in August 2024 on the allegations mentioned by SEBI. This order has now been challenged by Reliance in the Securities Appellate Tribunal (SAT) and the matter is under consideration.
Supreme court order
The process of loan solution of Reliance Home Finance has been completed as per the Supreme Court’s March 2023 order under the leadership of Bank of Baroda.
RCom accused of ‘fraud’ tag
SBI has declared the account of Reliance Communication (RCom) as ‘fraud’. On top of this, it was said by the Reliance Group that RCom is in the insolvency process (CIRP) for the last six years. This case is pending in NCLT and Supreme Court. SBI did not give Anil Ambani a chance for personal hearing, which is a violation of the principles of natural justice.
Apart from this, SBI removed the same allegations against other accused, but Anil Ambani was not given that relief. SBI also did not provide them documents related to forensic audit report. Canara Bank, which is included in the Lenders Consortium with SBI, has removed the fraud tag on the accounts of the unconditional RCom in the Bombay High Court on 10 July 2025.
Final explanation of Reliance Group
Anil Ambani resigned from RCom’s board in 2019 and is not currently on the board of any Reliance Group Company. RCom and RHFL are no longer part of Reliance Group. Currently, only two listed companies of Reliance Group are Reliance Infrastructure Limited and Reliance Power Limited. The action of ED will not have any effect on business, financial performance, shareholders or any other stakeholder of these companies.