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Published By : Satya Mohapatra | November 5, 2025 3:48 PM
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Anil Ambani's Reliance Group Faces Fresh SFIO Probe Over Fund Diversion Claims

The regulatory and legal troubles for Anil Ambani and his Reliance Group are mounting. The conglomerate, already under the scanner of multiple agencies, now faces a fresh investigation initiated by the Ministry of Corporate Affairs (MCA) over serious allegations of financial irregularities.

According to reliable sources, the MCA has escalated the matter to the Serious Fraud Investigation Office (SFIO) after its preliminary findings suggested potential large-scale siphoning of funds and major violations of the Companies Act.

This new SFIO investigation will reportedly focus on the flow of money between various group companies, including Reliance Infrastructure, Reliance Communications (RCOM), and Reliance Commercial Finance. The probe aims to trace the alleged fund diversion case and pinpoint accountability within the senior management.

This MCA-ordered probe adds another layer to the intense scrutiny the Reliance Group is already facing. The Enforcement Directorate (ED), Central Bureau of Investigation (CBI), and the Securities and Exchange Board of India (SEBI) are all conducting separate investigations.

The ED has recently intensified its actions, attaching assets worth approximately Rs 7,500 crore belonging to group firms just this week. These attachments are linked to a multi-crore bank fraud case involving Reliance Infrastructure.

The core of the issue stems from loans raised by RCOM and its group companies between 2010 and 2012. Investigators allege that funds meant for business operations were diverted to related parties or used for "evergreening"—a practice of using fresh loans to repay old ones, which violates loan conditions.

The outstanding dues from this period stand at a staggering Rs 40,185 crore, with five banks having already declared the RCOM loan accounts as fraudulent. The ED estimates that at least Rs 13,600 crore was diverted through complex, layered transactions.

With RCOM already undergoing insolvency proceedings, this new Reliance Group probe by the SFIO signals a deeper dive into the group's financial practices and significantly increases the legal and financial challenges for Anil Ambani's conglomerate.