Reliance Infrastructure Shares Jump 5%, But Here’s the Real Story Behind the Headlines
Today, while investors rejoiced over the nearly 5% surge in Reliance Infrastructure share price, a much deeper and concerning story was unfolding in the background—one that has cast serious doubts on the financial practices of the Anil Ambani-led group. The stock market is no stranger to volatility, but when sharp movements are tied to allegations of financial misconduct and massive loan irregularities, the issue becomes much more than just numbers on a screen.
ED Investigation Exposes ₹12,000 Crore Loan Diversion by RHFL
The Enforcement Directorate (ED) has launched a thorough investigation into Anil Ambani’s Reliance Group. Starting on July 24 and continuing for over 72 hours, the agency conducted widespread searches, seizing a large number of documents and digital records. At the center of this probe is the alleged diversion of loans amounting to ₹12,000 crore by Reliance Home Finance Ltd (RHFL) to various related companies within the Anil Ambani group.
What makes this case even more significant is that ED isn’t working alone. The National Financial Reporting Authority (NFRA), the Central Bureau of Investigation (CBI), the Securities and Exchange Board of India (SEBI), and the National Housing Bank (NHB) are all involved, signaling the seriousness of the matter. The loans in question are tied to public funds, and with at least a dozen group entities currently going through insolvency proceedings, banks are facing massive losses in the form of deep haircuts.
₹7,000 Crore Written Off, 22 Key Executives Under Scanner
Sources say that 22 key individuals, including top executives and associates of Anil Ambani, are under scrutiny. The ED’s massive raid covered 60 companies tied to the group. According to SEBI’s investigation report shared with the ED, RHFL wrote off approximately ₹7,000 crore out of the ₹12,000 crore it had lent to group-linked companies. These loans were not repaid, effectively causing a huge loss that is now under the investigative spotlight.
The report also mentions that RHFL had borrowed ₹2,965 crore from Yes Bank. It is alleged that bribes were paid to the then CEO of Yes Bank, Rana Kapoor, through his wife Bindu Kapoor and her companies. Out of this amount, ₹1,353 crore has already turned into a Non-Performing Asset (NPA). A forensic audit conducted by the bank revealed that the funds were diverted to related companies, a clear case of financial mismanagement.
Statements from Reliance Infrastructure and Reliance Power
In response to the allegations, Reliance Infrastructure and Reliance Power issued identical statements saying, “The company and all its officials have fully cooperated and will continue to cooperate with the authorities.” On the matter of the ₹12,000 crore allegedly diverted by RHFL, an official from the company stated, “RHFL’s account has been fully resolved with a change in management as per the Supreme Court’s 2023 judgment. Other allegations are sub-judice, and in fact, the SEBI order has been challenged before the Securities Appellate Tribunal (SAT) since 2024.”
A source involved in the investigation cited SEBI’s order dated August 22, 2024, which concluded that RHFL had engaged in a fraudulent scheme to divert funds for the benefit of Anil Ambani and his group companies. The ED is now closely examining related-party transactions, including those where Reliance Infrastructure received funds from Crest Logistics and Engineers Pvt Ltd. This company had, in turn, received money from four other entities—RPL Star Power Pvt Ltd, RPL Solar Power Pvt Ltd, Species Trade and Commerce Pvt Ltd, and Worldcom Solutions Ltd—all of which are allegedly linked to the Anil Ambani group.
Common Addresses, Same Directors: SEBI Audit Uncovers Shocking Links
The SEBI investigation and the forensic audit of RHFL revealed that the companies receiving these massive loans shared more than just financial ties. Many of them had the same registered addresses, email domains, and even directors—raising serious red flags about the authenticity of their operations. As of September 30, 2021, RHFL had declared ₹6,931 crore as NPAs or written-off loans extended to these interconnected group entities.
This is not just a case of poor financial planning but seems to be a deliberate and well-organized scheme to channel funds into specific hands. While the stock price of (Reliance Infrastructure share price) Reliance Infrastructure surged today, perhaps driven by investor optimism or speculative buying, the underlying financial and legal concerns demand far more attention.
Conclusion
Today’s rally in Reliance Infrastructure’s & (Reliance Infrastructure share price) stock may have caught the eye of market watchers, but behind the numbers lies a story of alleged fraud, misappropriation of public funds, and ongoing investigations that could have long-lasting impacts. With multiple government agencies involved and serious allegations of financial misconduct, the Anil Ambani-led group finds itself under intense scrutiny. Investors and the public alike must stay informed and cautious in the face of such developments, where transparency often takes a backseat to damage control.
Disclaimer:
This article is based on publicly available information and is intended for informational purposes only. It does not constitute legal advice, investment guidance, or endorsement of any entity. Readers are advised to consult professionals before making any financial decisions.
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