Anil Ambani’s Reliance Group issued an official clarification relating to the allegations which has appeared in current media reviews and the actions initiated by India’s Enforcement Directorate (ED) on Thursday, 24 July 2025.
“Reliance Group needs to make clear sure current media reviews regarding the actions initiated by an enforcement company. These reviews seem to pertain to allegations in relation to transactions involving Sure Financial institution and Reliance House Finance, that are greater than 8 years previous,” mentioned the corporate in a white paper launch.
ED Raid
The Enforcement Directorate (ED) on Thursday carried out simultaneous searches at greater than 35 premises throughout Mumbai and Delhi, as a part of a cash laundering investigation below the Prevention of Cash Laundering Act (PMLA).
In response to media reviews, ED carried out the raids on Thursday in reference to an alleged ₹3,000-crore financial institution mortgage fraud involving Anil Dhirubhai Ambani Group corporations and Sure Financial institution. The reviews additionally talked about that the investigation on Thursday was carried out throughout 50 corporations and 25 people.
Anil Ambani is the previous managing director and chairman of the Reliance Group of corporations, as of present date, Thursday, 24 July 2025.
This is what Reliance Group says
1. Mortgage Allegations: On the allegation, ED discovered that simply earlier than the ₹3,000 crore mortgage was granted, Sure Financial institution promoters acquired cash of their considerations. The corporate now claims that the loans sanctioned to “sure personal corporations” of the promoter, Sure Financial institution, had been “sanctioned on advantage.”
In addition they mentioned that the loans had been “totally secured and have been totally repaid”, together with the curiosity, making the excellent quantity nil.
“Loans prolonged by Reliance House Finance Restricted (RHFL) to sure personal corporations of the promoter of Sure Financial institution had been sanctioned on advantage, after following the due course of, and had been duly authorised by a credit score committee comprising greater than 30 people. These loans had been totally secured and have been totally repaid, together with curiosity, and the excellent is zero,” mentioned the corporate.
2. Mortgage Approval Violations: ED alleged that it discovered gross violations in Sure Financial institution mortgage approvals to Reliance Group companies. They reportedly discovered that there have been backdated Credit score Approval Memorandums (CAMs), proposed investments with out due diligence in violation of the financial institution’s credit score insurance policies.
The corporate refuted the claims and mentioned that the loans had been granted after “due course of” and the complete Reliance Group corporations’ publicity was “totally secured.”
“Sure Financial institution had granted loans to Reliance entities after following the due course of. Your entire publicity of Reliance Group corporations is totally secured and was undertaken strictly within the unusual course of enterprise. All transactions between Reliance Group corporations and Sure Financial institution have been carried out in full compliance with relevant legal guidelines, laws, and monetary norms,” mentioned Reliance Group.
3. SEBI Findings: Reviews additionally emerged on the capital markets regulator (SEBI) discovering a “dramatic improve” in company loans by Reliance House Finance Restricted (RHFL). As per the allegations, the loans rose from ₹3,742.60 crore in FY2017-18 to ₹8,670.80 crore in FY2018-19.
Anil Ambani’s Reliance Group mentioned that the allegations had been addressed in a SEBI order handed in August 2024, which was later challenged within the Securities Appellate Tribunal (SAT), and nonetheless stays below judicial consideration.
“Allegations just like these referred to within the media reviews had been addressed in an order handed by SEBI in August 2024. This order has been challenged and is presently pending adjudication earlier than the Hon’ble Securities Appellate Tribunal (SAT). The matter is thus sub judice,” mentioned the corporate.
“The debt decision strategy of Reliance House Finance led by Financial institution of Baroda stands resolved pursuant to the judgment of the Hon’ble Supreme Court docket of India dated March 2023,” mentioned Anil Ambani’s Reliance Group.
The corporate additionally mentioned that Reliance Communications and Reliance House Finance will not be a part of the Reliance Group. “RCOM and RHFL will not be a part of the Reliance Group,” they mentioned, as per the white paper.
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