The Enforcement Directorate (ED) said Thursday it has summoned industrialist Anil Ambani for questioning on November 14 in connection with its money laundering investigation into alleged loan fraud involving his group companies The industrialist has been called to appear before the investigating officer at the agency’s Delhi headquarters.
The move follows the ED’s provisional attachment of more than 42 properties linked to him and his firms, valued at over Rs 3,083 crore, as part of the probe into companies of the Reliance Anil Dhirubhai Ambani Group (ADAG).
Meanwhile the company stocks Reliance Power and Reliance Infra continued to struggle. launched a fresh probe against the conglomerate. eliance Infra plunged 5% to a 52-week low of Rs 184.05, while Reliance Power slumped 5.4% to Rs 38.52 on the BSE, as investors reacted to deepening scrutiny of the debt-laden group already under the scanner of multiple agencies.
The Ministry of Corporate Affairs has handed the latest investigation to its specialised agency, the SFIO, widening the government’s crackdown on the Anil Ambani–led Reliance Anil Dhirubhai Ambani Group (ADAG). The move follows earlier probes by the Enforcement Directorate (ED), Central Bureau of Investigation (CBI), and market regulator Securities and Exchange Board of India (Sebi), all examining alleged violations of corporate governance norms and diversion of funds across group entities.
Shares of Reliance Communications also fell as much as 4.7% to Rs 1.21 on the BSE on Thursday. The escalation comes after the ED last week attached assets worth nearly Rs 7,500 crore tied to alleged fund diversion. These include over 132 acres of land in Dhirubhai Ambani Knowledge City at Navi Mumbai, a luxury residence at Pali Hill in Mumbai’s Bandra, and the Reliance Centre in New Delhi. According to reports, between 2010 and 2012, several group companies borrowed thousands of crores from Indian banks. A large portion of these funds was allegedly used to repay old loans, routed to related parties, invested in mutual funds, and later withdrawn — effectively to “evergreen” debt.
Both Reliance Infrastructure and Reliance Power, the filing said, continue to operate as usual, maintaining their focus on growth, operational excellence, and their commitment to all stakeholders, especially the over 50 lakh strong shareholder family.
"The largest value of assets attached belongs to Reliance Communications, which has not been a part of the Reliance Group since 2019 - i.e. for the last six years. The company has been undergoing the Corporate Insolvency Resolution Process (CIRP) for over six years. All matters relating to its resolution are currently sub judice before the National Company Law Tribunal (NCLT) and the Supreme Court of India," it said.
The firms said Anil D Ambani is in "no way involved with Reliance Communications, and has resigned six years ago in 2019".
"Anil D Ambani has also not served on the Board of Directors of either Reliance Infrastructure or Reliance Power for over three and a half years," it said.
"The repeated inclusion of Anil D Ambani in successive versions of all reports is unfortunately unwarranted and blatantly unfair." The filing said Reliance Infrastructure is a zero-bank-debt company. The company has assets worth Rs 65,840 crore, a net worth of Rs 14,287 crore, as of March 31, 2025, and a strong retail shareholding family of over 7 lakh investors.
Reliance Power is a zero bank debt company and has assets worth Rs 41,282 crore, and a net worth of Rs 16,337 crore as of March 31, 2025.
"Both Reliance Infrastructure Limited and Reliance Power Limited have filed a formal complaint with Securities and Exchange Board of India (SEBI) on October 29, 2025, against a systematic campaign of price hammering and market manipulation by an illegal bear cartel and vested interests," it added.
Reliance Group's two flagship companies - Reliance Infrastructure Limited and Reliance Power Limited - are entirely debt-free, with no outstanding loans from any bank or financial institution.