**Reliance Group Denies ₹17,000 Crore Fraud Allegations Amid ED Summons**
Reliance Group has firmly rejected allegations of a ₹17,000 crore fraud following a summons issued by the Enforcement Directorate (ED) to Anil Ambani, the group’s Chairperson and Managing Director. Sources from Reliance Group clarified that the issue concerning Reliance Infrastructure, specifically the alleged diversion of ₹10,000 crore, was publicly disclosed on February 9, 2025, and was not uncovered by the Securities and Exchange Board of India (SEBI).
Anil Ambani, aged 66, has been called in for questioning by the ED on August 5 as part of an investigation into a money laundering case linked to purported bank loan fraud involving his group of companies. The ED plans to record his statement under the Prevention of Money Laundering Act (PMLA) once he appears at their headquarters in New Delhi. Recently, the ED conducted raids at 35 locations associated with 50 companies and 25 individuals, including executives from Ambani’s businesses.
According to a SEBI report, the ED alleged that Reliance Infrastructure “diverted” funds, misrepresented as inter-corporate deposits (ICDs) to the Reliance Group, without properly disclosing the company as a “related party.” However, Reliance Group sources emphasized that the actual exposure of Reliance Infrastructure was approximately ₹6,500 crore, arguing that the claim of a ₹10,000 crore diversion is exaggerated and not factually supported.
The sources further stated that Reliance Infrastructure has been proactive in recovering its dues. Through mandatory mediation proceedings overseen by a retired Supreme Court judge, the company reached a settlement to recover its full exposure of ₹6,500 crore. They noted that the Odisha distribution companies involved in the settlement are operational, and the recovery process is currently pending in court, asserting that the amount is fully recoverable despite the ongoing allegations.
In an official statement, Reliance Infrastructure reiterated its position regarding the media reports about the alleged diversion of ₹10,000 crore to an undisclosed related party, clarifying that its net exposure has been consistently reported at around ₹6,500 crore in its financial statements for the past four years. The company emphasized its commitment to recovering its dues and highlighted the transparency of its financial disclosures.
**FAQ**
**What are the allegations against Reliance Group?**
The allegations involve a purported fraud of over ₹17,000 crore, with claims that Reliance Infrastructure diverted funds disguised as inter-corporate deposits without proper disclosure. Reliance Group has denied these allegations, asserting that the actual exposure is around ₹6,500 crore.
