New Delhi | November 8, 2025 | Industrialist Anil Ambani and his Reliance ADA Group have come under intense scrutiny from multiple central agencies as investigations widen into an alleged ₹17,000 crore loan fraud and fund diversion scandal. The Enforcement Directorate (ED), Central Bureau of Investigation (CBI), and the Securities and Exchange Board of India (SEBI) are jointly probing what is being described as one of the largest financial frauds in India’s corporate history.
According to investigative sources, group companies such as Reliance Communications and Reliance Home Finance are under the scanner for allegedly diverting loan funds through shell companies and misusing investor and lender money. The agencies suspect a network of fictitious entities was created to conceal the movement of large sums across domestic and offshore accounts.
The Enforcement Directorate is specifically examining a ₹3,000 crore loan from Yes Bank and a separate loan from State Bank of India (SBI) to Reliance Communications that was later classified as fraudulent. Multiple searches, seizures of documents, and interrogations of senior executives have already taken place as part of the ongoing investigation.
Notably, Anil Ambani had told a UK court in 2020 that his “net worth was zero”, citing mounting debts and liabilities. However, Indian agencies now believe that a complex web of transactions may have been used to obtain and reroute funds, contradicting those earlier claims.
A senior official described the case as “potentially one of the largest cases of systemic misuse of public funds by a corporate group,” pointing to patterns of coordinated financial manipulation.
Financial experts have noted that the unfolding investigation raises serious concerns about corporate governance, transparency, and regulatory oversight in India’s financial system. If the allegations are proven, the case could become a defining moment in the country’s corporate accountability framework.
The investigation continues as agencies trace the flow of funds, overseas transactions, and the roles of company directors in the alleged fraud.
