The Enforcement Directorate (ED) conducts raids at several places connected to industrialist Anil Ambani’s agencies in Mumbai. State Bank of India (SBI) declares the Reliance Communications and its MD Anil Ambani as ‘fraud’.
While Ambani’s personal house was not a part of the raid operation, the ED teams from Delhi and Mumbai visited premises tied to some of his companies. The research is related to alleged money laundering by RAAGA (Reliance Anil Ambani Group) businesses.
ED Raids on Several Premises of Anil Ambani
The ED’s action is based on inputs obtained from a couple of regulatory and financial bodies consisting of the National Housing Bank, the Securities and Exchange Board of India (Sebi), the National Financial Reporting Authority (NFRA), Bank of Baroda, and FIRs filed by Central Bureau of Investigation (CBI).
Senior business executives connected to Anil Ambani’s institution are also being searched as a part of the wider research. The ED claims it has uncovered proof of a planned scheme to divert public budget.
SBI Declare Reliance’s MD as Fraud
The current ED action follows SBI’s latest statement of Anil Ambani and his agency Reliance Communications (RCom) as ‘fraud’. On June 13, 2025, guidelines issued by the Reserve Bank of India on fraud risk management, and as per its policy, SBI flagged the company and its managing director.
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