The Enforcement Directorate has uncovered a fake bank guarantee worth ₹68.2 crore allegedly linked to entities under the Anil Ambani Group. The guarantee, submitted to SECI, was backed by forged documents impersonating SBI and is now part of a larger money laundering probe into suspected financial irregularities.
Anil Ambani Group, officially known as Reliance Group, is headquartered in Mumbai, Maharashtra. It operates across multiple sectors including infrastructure, power, financial services, and telecommunications. Key entities under the group include Reliance Power, Reliance Capital, and Reliance Infrastructure. The group has been under scrutiny in recent years for financial mismanagement and rising debt concerns.
The Enforcement Directorate (ED) has initiated a comprehensive money laundering investigation after uncovering a fake bank guarantee worth ₹68.2 crore, purportedly issued in the name of two group companies—Reliance NU BESS Limited and Maharashtra Energy Generation Limited, both associated with the Anil Ambani Group.
The fake guarantee had been submitted to the Solar Energy Corporation of India (SECI). According to ED officials, the documents used to support the guarantee were forged and involved a spoofed email domain—“s-bi.co.in”—created to mimic the official domain of the State Bank of India (SBI). The ED has requested domain data from the National Internet Exchange of India (NIXI) to identify the individuals behind this cyber impersonation.
Also Read: Anil Ambani’s Reliance Power Ignites Market Frenzy With SJVN Mega Win
The investigation stems from FIR No. 0131/2024, registered by the Economic Offences Wing (EOW), Delhi on November 11, 2024. Based on this FIR, ED conducted searches under Section 17 of the Prevention of Money Laundering Act (PMLA) across multiple locations. These include three premises in Bhubaneswar connected to Biswal Tradelink Private Limited, and one premise in Kolkata tied to an operator associated with the group.
Evidence gathered from an earlier search conducted on July 24, 2025, in a separate investigation involving Anil Ambani Group companies, has been found directly relevant to this case. The ED has linked these findings to fraudulent financial practices.
Among other red flags, the ED uncovered:
- Fabricated commission bills used to facilitate false accounting
- Undisclosed bank accounts with crores of rupees in suspicious transactions
- Identification of the company as a paper entity; the registered office is reportedly a residential address of a relative, with no official documents found onsite
- Financial dealings with multiple shell firms traced through transaction trails
- Usage of encrypted Telegram messaging with disappearing features, suggesting attempts to destroy digital communication trails
Also Read: CBI Steps In: SBI Flags Billionaire Anil Ambani as Fraud
The federal agency continues to examine whether these forged documents and accounts are part of a broader ₹17,000 crore loan fraud already under investigation. The suspected activities signal coordinated efforts involving cyber fraud, financial forgery, and criminal conspiracy, raising concerns about internal governance and compliance within the implicated entities.
This latest revelation adds a significant layer to the ongoing financial investigations surrounding the group and could potentially trigger broader regulatory scrutiny across financial institutions and corporate intermediaries involved in the process.
READ MORE ON
