Friday morning brought great turmoil in the Indian corporate world. Enforcement Directorate (ED) teams suddenly raided several locations linked to industrialist Anil Ambani and his company Reliance Power Limited. According to media reports, massive searches are going on at about 10 to 12 different places. The main target of the investigating agency is the residential and registered offices of Reliance Power and its associated companies. Although no official statement has been issued by the ED yet, but initial indications show that this entire exercise is being done to thoroughly investigate some suspicious transactions and big fund transfers related to Reliance Power.
How did the investigation reach this point?
This entire controversy stems from the loans taken by Reliance Communications (RCom) from several financial institutions including State Bank of India (SBI) and Yes Bank. The allegations are very serious. It is being said that the funds taken as loans from these banks were diverted to other related entities and foreign accounts, disregarding the rules. This matter is not limited to domestic banks only. In this case, it has also been revealed that Chinese government banks have suffered a huge loss of ₹ 13,558 crore. This money laundering investigation is based on a CBI FIR filed in 2019. Following strict and clear instructions from the Supreme Court, the Enforcement Directorate (ED) has formed a Special Investigation Team (SIT), which is now investigating the entire case.
ever tightening grip
This pressure from the investigating agencies has not increased suddenly. Just last month, in February 2026, the Enforcement Directorate (ED) took a major step and temporarily seized Anil Ambani’s luxurious Mumbai home, “Abode”. The estimated cost of this luxurious bungalow alone is around ₹3,500 crore. The major action was part of the long-running investigation into the ₹40,000 crore bank fraud case involving RCom. With this seizure, the total value of Ambani Group assets seized so far has crossed ₹15,700 crore.
