Anil Ambani’s Reliance Energy faces recent ED motion, Rs 2,032 crore property seized
The motion is linked to alleged international alternate violations involving abroad investments, transactions via British Virgin Islands entities, and funds routed via Mauritius.
The investigation started after the Securities and Alternate Board of India (SEBI) offered details about write-offs and provisions aggregating Rs 2,101.46 crore recorded in Reliance Energy’s books. These have been linked to abroad investments and advances made to firms within the British Virgin Islands (BVI) and Cayman Islands.
The ED performed searches underneath FEMA between March 6 and March 8, 2026, throughout which it stated a number of incriminating paperwork have been seized and statements of a number of people have been recorded.
How the abroad transactions allegedly labored
In keeping with the company, Reliance Pure Assets Restricted (RNRL), which subsequently merged with Reliance Energy, raised $300 million via International Forex Convertible Bonds in 2006.
Of this quantity, $275 million was invested in its wholly owned Singapore subsidiary, Reliance Pure Assets (Singapore) Pte Ltd (RNRL-S).
The ED alleged that RNRL-S deposited these funds with Deutsche Financial institution (Suisse) SA in Geneva. The deposits have been subsequently used as collateral for loans prolonged to entities included within the British Virgin Islands.
The company stated its investigation discovered that these BVI entities have been managed and managed from India by the Reliance Anil Ambani Group via entrance individuals performing on the group’s instructions.
ED flags alleged round-tripping
The ED alleged that the mortgage proceeds have been used for numerous functions, together with quickly routing funds again into India via international entities based mostly in Mauritius.
“Additional investigation has revealed that the mortgage proceeds have been utilised for various functions, together with non permanent round-tripping of funds into India via international entities based mostly in Mauritius. The funds have been utilised for the good thing about the Reliance Anil Ambani Group and events outdoors India.”
The investigation additionally discovered that the BVI entities did not repay the loans prolonged by Deutsche Financial institution.
As a part of an alleged cover-up, the ED stated paperwork have been fabricated to indicate that RNRL-S and Indonesian subsidiaries of Reliance Energy had offered advances to the BVI entities for apparently real enterprise functions.
The company alleged that these paperwork have been backdated and ready to current the transactions as professional enterprise dealings.
The seizure has been carried out underneath Part 37A of FEMA, which permits authorities to grab property in India equal to the worth of international alternate allegedly held overseas in contravention of the legislation.
