The troubles for Reliance Group Chairman and MD Anil Ambani seem to be mounting. After being entangled in a bank loan fraud case, the ED has intensified its investigation into a ₹68 crore fake bank guarantee case. On Friday, the ED conducted raids in Odisha and Kolkata. The ED has based its ECIR (Enforcement Case Information Report) on a case filed by the Economic Offenses Wing of the Delhi Police on November 11, 2024.
The ED alleges that Anil Ambani's company was awarded a contract based on this fake bank guarantee. In Bhubaneswar, the ED raided and searched three premises associated with Messrs. Biswal Tradelink Pvt. Ltd. and its directors. Similarly, a raid was conducted at the premises of an associate of the same firm in Kolkata. Found involved in issuing fake bank guarantees for an 8% commission, Messrs. Biswal Tradelink Pvt. Ltd. (based in Odisha) and its directors, along with associates, face serious allegations.
Read Also: ED Summons Anil Ambani for Questioning in ₹17,000 Crore Loan Fraud Case Post-Raid
Fake Bills for Commission
The ED claims that Anil Ambani's company also prepared fake bills to give commissions to the firm. Several undisclosed bank accounts have been uncovered, containing suspicious transactions amounting to crores. The federal agency stated that it uncovered connections between the fake ₹68.2 crore bank guarantee submitted to companies of Anil Ambani's group and the Indian Solar Energy Corporation (SECI). This ongoing investigation is directly related to previously seized evidence during the search of Anil Ambani group companies on 24.07.2025.
Fake SBI Email Domain Used
According to the ED, this fake guarantee was issued in the names of Messrs. Reliance NU Base Limited and Messrs. Maharashtra Energy Generation Limited, both linked to Anil Ambani's group. To portray the fake bank guarantee as real, Anil Ambani's Reliance Group allegedly used a fake email domain, "s-bi.co.in," instead of the official "sbi.co.in" to approach SECI. The ED has sought domain registration details from the National Internet Exchange of India (NIXI) to trace the source of this fake domain.
Also Read: Loans, Lies, and Bribery? Why ED Tightened Its Noose on Businessman Anil Ambani, Raids on Companies
Relative's Residence Found at Company Address
As per the ED, the company is merely a paper entity - its registered office is a relative's residential property. No statutory records of the company were found at the address. Suspicious financial transactions with several other companies were revealed. Key personnel associated with the company were found using the Telegram app's 'disappearing messages' feature, indicating attempts to conceal conversations. Previously, Ambani was summoned by the ED in connection with the ongoing investigation of an alleged ₹17,000 crore loan fraud case, asking him to appear at their New Delhi office on August 5.
