Reliance Group's Financial Turmoil: ED Investigation Unfolds

The Enforcement Directorate (ED) has wrapped up its searches at Reliance Group's Reliance Infrastructure and Reliance Power premises, as confirmed by official disclosures from the companies. The investigations are part of a broader probe into an alleged Rs 3,000-crore bank loan fraud involving multiple financial irregularities.

Despite the intensity of the investigations, both companies assure stakeholders that operations remain unaffected. A statement from Reliance Power affirmed their willingness to cooperate fully with the federal probe agency in its quest for transparency and accountability.

This development is a piece of a larger puzzle involving Enforcement Directorate's scrutiny of financial dealings associated with group chairman Anil Ambani. Key figures cited by ED sources include a suspected illegal loan diversion from Yes Bank and possible misuse of Rs 10,000 crore affecting Reliance Infrastructure.

(With inputs from agencies.)