Reliance Power, R Infra Respond to ED Action: ‘No Operational Impact’; Full Detail Inside

Anil Ambani-led Reliance Power and Reliance Infrastructure issued clarifications that the recent raid carried out by the enforcement directorate will have no impact on the business operations, financial health, and key stakeholders, including the shareholders and employees. In separate statements filed on the exchanges, the two companies mentioned that alleged transactions related to Reliance Communications (RCOM) or Reliance Home Finance Limited (RHFL) were made 10 years ago. 

Reliance Power further clarified that it is a separate and independent listed company with no business connection to RCOM or RHFL. 

“Reliance Power wishes to clarify regarding the media reports regarding the recent action by the enforcement agency. It is clarified that Reliance Power is a separate and independent listed entity with no business or financial linkage to RCOM or RHFL,” said Reliance Power on July 24. “The media reports appear to pertain to allegations concerning transactions of RCOM or RHFL which are over 10 years old,” the company added.

Why Did ED Raid Anil Ambani-Linked Properties? 

The enforcement agency on July 23 carried out searches at around 35 locations and 50 companies linked to Anil Ambani-led Reliance Group in connection with the ongoing money-laundering probe tied to a ₹3,000 crore Yes Bank loan fraud case. 

The searches were carried out after two FIRs were filed by the Central Bureau of Investigation and information shared by agencies like the Securities and Exchange Board of India, the National Housing Bank, the Bank of Baroda, and the National Financial Reporting Authority (NFRA). 

The development comes just weeks after the State Bank of India declared Anil Ambani and his company, RCOM, as ‘fraud’. The lender flagged concerns with both the promoter and the company on June 13, 2025, under the Reserve Bank of India’s guidelines on fraud risk management. 

The enforcement agency’s raid and SBI’s move have come around a time when the Anil Ambani-led group has just started its revival journey, with a focus on sectors like clean energy, infrastructure, and defence. 

What Do We Know So Far? 

In the preliminary investigtion, the enforcement agency has found that loans worth around ₹3,000 crore sanctioned by the Yes Bank between 2017 and 2019 were allegedly moved to shell companies and other Reliance group entities. Additionally, ED found evidence that hinted at potential bribery of bank officials, including its promoters, the Economic Times had earlier reported. 

Apart from serious lapses found in Yes Bank’s loan approval process, like crucial documents such as Credit Approval Memorandums (CAMs) back-dated credit documents, absence of due diligence, and loans given to companies with weak financials and common directors. It also reportedly found that loan conditions were violated and accounts were evergreened.