ED files complaints against RInfra, RCom
The Enforcement Directorate (ED) on Sunday (August 9, 2026) said it has filed a prosecution complaint against Reliance Infrastructure (RInfra) Limited and others in an
The Enforcement Directorate (ED) on Sunday (August 9, 2026) said it has filed a prosecution complaint against Reliance Infrastructure (RInfra) Limited and others in an alleged money-laundering case and a supplementary complaint in a case involving the alleged diversion of funds by Reliance Communications (RCom) Limited. In the first case, the agency filed the complaint on Saturday (August 8, 2026), naming RInfra, former Reliance Anil Ambani Group executive Sateesh Seth, and others. The ED probe is based on a First Information Report (FIR) registered by the Economic Offences Wing of the Mumbai police. The FIR alleged that shell companies were used to route funds through fictitious invoices and overvalued diamond imports.
According to the ED, its investigation revealed an organised scheme to divert public funds from four NHAI-awarded toll-road projects: Trichy-Karur (NH-67), Trichy-Dindigul (NH-45), Salem-Ulundurpet (NH-68) and Jaipur-Reengus (NH-11). “The projects were financed through NHAI grants and loans from banks and financial institutions. About ₹187 crore was siphoned during September-October 2010 through sham, post-facto or back-dated arrangements for fictitious subcontracting work,” it alleged on Sunday (August 9, 2026). In the RCom case, the agency has filed a complaint against the company, Reliance Telecom Limited, former Reliance Anil Ambani Group executives Gautam Bhailal Doshi, Sateesh Seth, Amitabh Jhunjhunwala, and others.
The ED initiated its investigation based on multiple FIRs registered by the Central Bureau of Investigation, following complaints from banks and financial institutions alleging diversion of fund-based and non-fund-based credit facilities. The ED alleged that fresh credit facilities were repeatedly used fraudulently to repay, rotate and evergreen earlier domestic and foreign liabilities instead of being used for the sanctioned end-use. “Funds were layered through group companies, purpose-built conduit entities, multiple bank accounts and liquid mutual funds; used to service earlier External Commercial Borrowings and Foreign Currency Convertible Bonds (FCCBs); and projected as legitimate business expenditure or receipts,” it alleged.
The agency alleged that loan proceeds were diverted to group companies such as Reliance Infrastructure and M/s Reliance Capital Limited and were also used to purchase personal assets for the promoters outside India. It also claimed that the funds were used to artificially inflate profits for Reliance Communications. “The proceeds of crime are quantified at ₹40,185.55 crore, being the total outstanding amount which has been defaulted by the borrower entities to consortium banks, financial institutions and bondholders," it said.
The BriefWire