Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
ED Searches 35 Locations Linked to Reliance Group
Mint Bangalore
|July 25, 2025
India's financial crime-fighting agency searched 35 locations linked to Reliance Anil Ambani Group as part of an investigation into alleged money laundering and siphoning of public funds, a person in the know of the development said on Thursday.
The enforcement directorate alleges the group orchestrated a "well-planned" scheme to siphon ₹30 billion ($350 million) in loans from YES Bank to many shell companies between 2017 and 2019, the person said on the condition of anonymity, as he was not authorized to speak to the media.
Anil Ambani's Reliance group entities are accused of paying bribes to Yes Bank officials before loans were disbursed, the source said, adding that loan approvals violated the bank's processes.
This story is from the July 25, 2025 edition of Mint Bangalore.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Mint Bangalore
Mint Bangalore
Tech focus drives Meesho’s IPO prep
lier this month.
1 mins
November 29, 2025
Mint Bangalore
LIC’s response to voting on RIL, Adani resolutions
A Mint story on Friday reported how Life Insurance Corp. of India Ltd, or LIC, had approved or never opposed resolutions proposed before shareholders of Reliance Industries Ltd (RIL) or any Adani Group company since 1 April 2022, even as it rejected similar proposals at other large companies.
1 min
November 29, 2025
Mint Bangalore
After a year’s pause, AT-I bonds return with Canara Bank
Canara Bank on Friday raised ₹3,500 crore from an additional tier-1 (AT-I) offer, according to three people aware of the matter.
1 min
November 29, 2025
Mint Bangalore
Inside Bengaluru's quiet recycling revolution
Stories from the alleys and gullies of India
4 mins
November 29, 2025
Mint Bangalore
Speciality chemical makers are betting big on pharma
The Street is gravitating toward speciality chemical manufacturers that supply contract development and manufacturing organizations (CDMO) and active pharmaceutical ingredient (API) makers, as uncertainty looms over the chemicals sector.
1 mins
November 29, 2025
Mint Bangalore
The hero who made the movies larger
There are so many Dharmendras to love. Our tribute to the actor whose casual charm belied his larger-than-life aura
4 mins
November 29, 2025
Mint Bangalore
Art Deco feels in Indian fashion
The 100-year-old style has inspired design worldwide. Why doesn't it have a big presence in Indian fashion?
4 mins
November 29, 2025
Mint Bangalore
Indian IT slashes spending on US lobbying on H-1B visa blues
The Indian IT industry has been lowering its lobbying spends in the US in recent years, according to filings made to the US House of Representatives and accessed by Mint.
1 min
November 29, 2025
Mint Bangalore
Fiscal deficit widens on higher capex, lower tax
India’s fiscal deficit for the April-October period rose on higher capital expenditure and lower net tax revenue.
1 min
November 29, 2025
Mint Bangalore
Recreating Dharmendra's timeless style
The late movie superstar was the definition of what it means to have a strong personal style
1 min
November 29, 2025
Listen
Translate
Change font size