**ED Raids 6 Reliance Infrastructure-Linked Premises in Indore and Mumbai**
*By Chanshimla Varah | Sep 30, 2025, 05:01 PM*
The Enforcement Directorate (ED) conducted raids at six locations connected to Anil Ambani’s Reliance Infrastructure in Mumbai and Indore on Tuesday. This move is part of an ongoing investigation into alleged illegal remittances under the Foreign Exchange Management Act (FEMA).
### Investigation into Alleged Diversion of Loans
The ED’s probe focuses on several companies within the Ambani business empire, particularly Reliance Infrastructure. The company is accused of diverting loans worth over ₹17,000 crore. According to findings from a Securities and Exchange Board of India (SEBI) report cited by the ED, Reliance Infrastructure allegedly routed funds to other entities within the Reliance Group through inter-corporate deposits (ICDs).
### Probe Expansion and Bank Summons
As the investigation intensifies, the ED has summoned 39 banks to provide explanations regarding their possible lapses in due diligence. The agency is examining whether these banks failed to flag suspicious loans or report irregularities to regulatory authorities when the borrowing entities began defaulting on repayments.
In August, the younger Ambani had appeared before the ED in connection with a money laundering probe related to multiple fraud cases involving several group companies.
### Reliance Group Denies Wrongdoing
The Reliance Group has denied any wrongdoing. In an official statement, the company described the allegation of diverting ₹10,000 crore to an undisclosed party as a decade-old matter, clarifying that its actual exposure was approximately ₹6,500 crore.
The statement further highlighted that through mandatory mediation proceedings conducted by a retired Supreme Court judge, and a mediation award filed before the Bombay High Court, Reliance Infrastructure has already settled to recover its full exposure of ₹6,500 crore.
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This development marks a significant chapter in the ongoing scrutiny of financial dealings within one of India’s prominent business conglomerates. The investigation is expected to progress further in the coming weeks as the ED continues its probe.
https://www.newsbytesapp.com/news/business/ed-raids-6-reliance-infrastructure-linked-premises-in-indore-and-mumbai/story
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