The Shocking ED Allegations Against Anil Ambani, Yes Bank Loan Fraud Explained

In a massive loan fraud investigation, the Enforcement Directorate (ED) has targeted Anil Ambani and his once-powerful Reliance ADA Group, accusing them of orchestrating an elaborate web of financial deceit between 2017 and 2019. The younger Ambani brother, who parted ways with Mukesh in 2005 to forge an empire in telecom, power, infrastructure, and finance, now stands accused of siphoning funds through quid pro quo arrangements with Yes Bank, evergreening of loans, backdated approvals, zero due diligence, and routing money via shell companies. While Reliance Infrastructure and Reliance Power have emerged debt-free and are pivoting to green energy and defence sectors, the shadows of past collapses refuse to fade: bankrupt Reliance Communications (declared fraud by SBI for massive defaults), lender-seized Reliance Capital, and Reliance Home Finance. A stunning surge in Reliance Home Finance’s corporate lending within a single year—disbursed to dubious borrowers sharing identical addresses—triggered SEBI’s scathing report. The ED has unearthed fake bank guarantees, undisclosed foreign accounts in Jersey, BVI, and Cyprus, and hawala trails under FEMA. With assets worth thousands of crores already attached, a Look Out Circular (LOC) in force, top executives under intense grilling, and arrests like that of Partha Sarathi Biswal already executed, the noose is tightening around the tycoon who once declared zero net worth. As raids and inter-agency probes escalate, India waits to see if this spells the definitive collapse of Anil Ambani’s empire.