Reliance Group Chairman and MD Anil Ambani’s difficulties seem to be increasing. After the bank loan fraud case, the ED has now intensified the investigation into a fake bank guarantee case of Rs 68 crore. In this connection, ED conducted raids in Odisha and Kolkata on Friday. The ED has filed an ECIR (enforcement case information report) based on a case registered by the Economic Offenses Branch of Delhi Police on November 11, 2024 in this case.
The ED alleges that the contract was given to Anil Ambani’s company on the basis of this fake bank guarantee. In Bhubaneswar, the ED raided and searched 3 campuses associated with Messrs Biswal Tradalink Private Limited and its directors. At the same time, the ED also raided the premises of a colleague company of the same firm in Kolkata. Messrs Biswal Tradalink Private Limited (located in Odisha), its director and associates were found involved in issuing fake bank guarantee on 8% commission.
The ED has alleged that Anil Ambani’s company had also prepared fake bills to pay commission to the firm. Many undeclared bank accounts have been detected. Suspected transactions worth crores of rupees have been found in these bank accounts. The federal agency said that it has detected relations between Anil Ambani Group companies and Solar Energy Corporation of India (SECI) a fake bank guarantee of Rs 68.2 crore deposited. In a related case, the first seized evidence (during the search of 24.07.2025 in the case of Anil Ambani Group companies) is directly related to the current investigation.
Use of fake email domain of SBI
According to the ED, this fake guarantee was released in the name of Messrs Reliance NU Base Limited and Messrs Maharashtra Energy Generation Limited, both associated with Anil Ambani Group. In an attempt to describe the fake bank guarantee as real, Anil Ambani’s Reliance Group used a fake email domain, “S-Bi.co.in”, instead of the official “sbi.co.in” to allegedly contact SECI. The ED has sought a domain registration details from the National Internet Exchange of India (NIXI) to find out the source of this fake domain.
Relative house found at company address
According to the ED, the company is only a paper institution – its registered office is the residential property of a relative. No statutory record of the company was found at the address. Suspected financial transactions have been detected with several companies. Prominent people associated with the company have been found chatting with the Telegram app with ‘missing messages’ features, indicating efforts to hide the conversation. Earlier, Ambani was summoned by the ED on Friday in connection with the ongoing investigation into the alleged ₹ 17,000 crore loan fraud case and asked to appear in his New Delhi office on 5 August for questioning.
