Thu Jul 24 14:10:00 UTC 2025: Here’s a summary of the text followed by a rewritten version as a news article:
**Summary:**
The Enforcement Directorate (ED) conducted raids on over 35 premises and scrutinized numerous companies and individuals connected to the Reliance Anil Ambani Group in a case involving alleged financial irregularities. The investigation stems from CBI reports and information from other agencies (NHB, SEBI, NFRA, Bank of Baroda). The ED suspects a deliberate scheme to divert public money through cheating banks, shareholders, and investors, including bribing Yes Bank officials. Specifically, the ED is investigating a potential ₹3,000 crore illegal loan diversion from Yes Bank to Reliance Anil Ambani Group companies. The agency found alleged violations in Yes Bank loan approvals, including backdated documents, lack of due diligence, and diversion of funds to shell companies. There is also scrutiny on the dramatic increase in corporate loans by Reliance Home Finance Limited.
**News Article:**
**ED Raids Reliance Anil Ambani Group Over Alleged ₹3,000 Crore Loan Diversion**
**Mumbai – July 24, 2025** – The Enforcement Directorate (ED) conducted a widespread operation on Thursday, searching over 35 locations linked to the Reliance Anil Ambani Group, encompassing 50 companies and more than 25 individuals. The action is part of an ongoing investigation into alleged financial irregularities and a potential ₹3,000 crore (approximately $360 million USD) loan diversion from Yes Bank.
According to agency sources, the ED’s probe is based on multiple First Information Reports (FIRs) filed by the Central Bureau of Investigation (CBI), along with information provided by other institutions like the National Housing Bank (NHB), the Securities and Exchange Board of India (SEBI), the National Financial Reporting Authority (NFRA), and Bank of Baroda.
“Preliminary investigation by the ED has revealed a well-planned scheme to divert public money by cheating banks, shareholders, investors, and other public institutions,” said a source familiar with the investigation. “The offence of bribing bank officials, including the promoter of Yes Banks Limited, is also under scrutiny.”
The ED alleges that just before the loans were granted, Yes Bank promoters received money, suggesting a nexus of bribes and illicit lending. The investigation is focused on alleged “gross violations” in Yes Bank’s loan approvals to Reliance Anil Ambani Group companies. These violations include backdated Credit Approval Memorandums (CAMs), investments proposed without due diligence or credit analysis (violating the Banks Credit Policy), and diversion of funds to group companies and shell corporations.
Red flags raised by the ED include loans given to entities with weak financial standing, lack of proper loan documentation, borrowers sharing common addresses and directors, and the alleged “evergreening” of loans. The agency is also examining a significant increase in corporate loans by Reliance Home Finance Limited (RHFL), which jumped from ₹3,742.60 crore in FY 2017-18 to ₹8,670.80 crore in FY 2018-19.
The investigation is ongoing, and further details are expected to emerge as the ED continues its inquiries. The Reliance Anil Ambani Group has yet to issue an official statement on the matter.
First Piper 