ED Raids 50 Firms Linked To Anil Ambani In Yes Bank Loan Scam

New Delhi, July 24 (TNA) In a major crackdown, the Enforcement Directorate (ED) has raided over 35 locations and 50 companies linked to Anil Ambani’s Reliance Group in connection with the Yes Bank loan fraud case. The searches are underway at various offices and premises in Delhi and Mumbai.

According to Sources, the raids follow two FIRs filed by the CBI and are based on inputs from SEBI, National Housing Bank, Bank of Baroda, and the National Financial Reporting Authority (NFRA).

ED alleges that between 2017 and 2019, Reliance Group secured loans worth ₹3,000 crore from Yes Bank, which were subsequently diverted to shell firms and other group entities. Investigators suspect bribes may have been paid to bank officials.

This comes days after the State Bank of India (SBI) declared Reliance Communications and Anil Ambani as “fraudulent” borrowers. On June 23, 2025, SBI flagged the account and informed the Reserve Bank of India the next day.