Anil Ambani, the chairman and managing director of Reliance Group, has been summoned by the Enforcement Directorate (ED) in connection with an ongoing investigation into an alleged Rs 17,000 crore loan fraud case. The ED has requested Ambani’s presence for questioning at their headquarters in New Delhi on August 5, 2025, following recent raids on multiple locations associated with his business interests in Mumbai.
The ED’s investigation is being conducted under the Prevention of Money Laundering Act (PMLA) and involves scrutinising the activities of approximately 50 companies and 25 individuals linked to the Reliance Group. This development comes as the Securities and Exchange Board of India (SEBI) shared findings from a separate probe with various financial regulatory bodies.
SEBI’s report indicates that Reliance Infrastructure allegedly diverted around Rs 10,000 crore through a company named CLE Pvt Ltd. This company was not disclosed as a related party, and the diversion was reportedly masked as inter-corporate deposits. Documents show that CLE officials used email addresses linked to the Reliance ADA Group, suggesting close ties to the organisation.
A person close to the Reliance Group commented on the SEBI findings, stating, “Reliance Infrastructure publicly disclosed this matter on February 9, and SEBI did not make any independent discovery.” This source further disputed the reported figures, claiming the exposure amounted to Rs 6,500 crore, not the Rs 10,000 crore mentioned by SEBI.
“When the exposure was Rs 6,500 crore, how can the diversion be Rs 10,000 crore? Reliance Infra has already gone through mandatory mediation under a retired Supreme Court judge and filed for recovery before the Bombay High Court,” the source said.
SEBI alleged that between FY17 and FY21, Reliance Infrastructure wrote off Rs 10,110 crore due to provisions and impairments. The dealings with CLE amounted to Rs 8,302 crore as of March 31, 2022, and involved various financial instruments. The market regulator’s probe spans transactions from FY16 to FY23, highlighting significant asset allocations to CLE, which were not formally disclosed to shareholders or auditors.
The report also questioned Reliance Infrastructure’s failure to identify CLE as a related entity, a move that SEBI suggests was intended to circumvent necessary audits and shareholder approvals. It is reported that between FY13 and FY23, 25% to 90% of Reliance Infrastructure’s assets were allocated to CLE.
