Reliance Infrastructure breaks silence after ED summons Anil Ambani for questioning in Rs 17000 crore loan fraud case; ‘Exposure only around Rs…’

Shares of Anil Ambani’s companies, Reliance Power and Reliance Infrastructure, dropped by up to 5 per cent in early trading on Friday. This came after news reports said that the Enforcement Directorate (ED) has called Anil Ambani for questioning on August 5. Reliance Power’s stock fell by 4.82 per cent to Rs. 50.30, and Reliance Infrastructure’s stock dropped by 5 per cent to Rs.  311.60 on the Bombay Stock Exchange (BSE).

According to a PTI report, Anil Ambani has been asked to come to the ED’s office in New Delhi. The questioning is linked to an investigation into a suspected loan fraud and money laundering case involving his group companies. The ED plans to take his statement under the law that deals with money laundering (PMLA).

Last week, the ED had searched several offices and people connected to the Reliance Group. These raids began on July 24 and went on for three days.

The case involves suspicions of financial wrongdoing, including the misuse of more than Rs. 10,000 crore in loans by different companies in the group. A major part of the probe is focused on about Rs.  3,000 crore in loans given by Yes Bank to the Reliance Group between 2017 and 2019, which the ED believes may have been misused.

Reliance Infrastructure denies Rs. 10,000 Crore diversion claim, says real amount is Rs. 6,500 crore

Reliance Infrastructure has responded to media reports that claimed Rs. 10,000 crore was wrongly diverted by the company. In a statement, the company said this figure is “exaggerated and not based on facts.”

According to them, their actual financial exposure in this matter is Rs. 6,500 crore, not Rs. 10,000 crore as reported. They also said this issue is more than 10 years old and has already been publicly disclosed on February 9, 2025, almost six months ago.

The company clarified that the Rs. 6,500 crore figure has been clearly mentioned in its financial records over the past four years. It also said that it has worked seriously to recover this amount.

A retired Supreme Court judge helped mediate the issue, and with court approval, a settlement was reached to recover the full Rs. 6,500 crore.

The company also pointed out that Anil D. Ambani has not been a part of Reliance Infrastructure’s board of directors since March 2022, over three years ago.

Reliance group says raids had absolutely no impact on their business operations

On July 26, Reliance Power and Reliance Infrastructure told the stock exchanges that recent Enforcement Directorate (ED) raids had “no impact at all” on their daily business, financial health, staff, or shareholders. They acknowledged the investigation but said everything was continuing as normal.

The ED is currently looking into financial irregularities involving the group. Several major regulatory bodies i.e. the National Housing Bank (NHB), SEBI, the National Financial Reporting Authority (NFRA), and Bank of Baroda have shared their own findings with the agency to support the ongoing probe.

This isn’t the first time fraud concerns have come up. Back in November 2020, SBI had already flagged Reliance Communications (RCom) and Anil Ambani’s accounts as fraudulent, and filed a complaint with the CBI in January 2021. However, the Delhi High Court stopped further action the next day, and the complaint was later withdrawn.

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