Reliance Power, Reliance Infra Share Price Hit Lower Circuit After ED Raids Linked to ₹3,000 Crore Loan Fraud

Reliance Power (NSE: RPOWER) and Reliance Infrastructure share price (NSE: RELINFRA) dropped over 5% in early trade on July 24 after the Enforcement Directorate (ED) carried out multiple raids linked to a major bank loan fraud case involving Anil Ambani-led companies and Yes Bank.

ED Raids Over 35 Locations

The ED conducted searches at more than 35 locations across Mumbai and Delhi. These included offices and residences of around 50 companies and 25 individuals associated with the Anil Dhirubhai Ambani Group (ADAG). The action is part of a money laundering investigation under the Prevention of Money Laundering Act (PMLA).

₹3,000 Crore Loan Diversion Under Probe

Authorities are investigating loan disbursals made by Yes Bank between 2017 and 2019. ED suspects that Yes Bank promoters received money in return for approving loans to ADAG companies—indicating possible bribery or a quid pro quo arrangement.

Irregularities at Yes Bank Also Under Scanner

The ED is examining violations like backdated loan approvals, risky investments without proper checks, and breaches of Yes Bank’s internal lending policies. The investigation is based on 2 CBI FIRs and reports from SEBI, NFRA, NHB, and Bank of Baroda.

Read More: LIC Ties Up with Govt to Empower Rural Women via Bima Sakhi Yojana.

SBI Labels Anil Ambani and RCom as Fraud

On June 13, 2025, SBI officially marked Reliance Communications and its promoter Anil Ambani as "fraud" under RBI’s fraud risk guidelines. The bank has reported the case to the RBI and is preparing to file a complaint with the CBI.

Conclusion

The ongoing investigation has raised serious concerns about corporate governance within the Anil Ambani Group. With regulators tightening scrutiny, investors may remain cautious until clarity emerges from the ongoing probes.

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