CHENNAI: Reliance ADA Group has firmly rejected allegations of diverting funds through inter‑corporate deposits (ICDs) involving Reliance Infrastructure (R‑Infra) and an undisclosed entity, CLE Pvt Ltd. According to a SEBI‑based allegation disclosed via ED sources, R‑Infra is accused of moving approximately ₹10,000 crore to group companies through CLE—without declaring it as a related party—through the guise of ICDs, equity investments and corporate guarantees. These transactions are alleged to span FY2013 to FY2023, with total exposure to CLE reported as Rs 8,302 crore by SEBI, and write‑offs reaching Rs 10,110 crore during FY2017–21.
Reliance Group sources counter these claims, asserting that R‑Infra publicly disclosed the matter on February 9, 2025, and that SEBI did not make an independent discovery. They emphasise that R‑Infra’s actual exposure was Rs 6,500 crore—not Rs 10,000 crore—and argue that the larger number has been sensationalised by media reports.
"The company wishes to clarify regarding today’s media article pertaining to over 10 year old matter as regards alleged diversion of Rs. 10,000 crore to an undisclosed related party, when the exposure as per the disclosures in the Company’s financial statements is only about Rs. 6,500 crore. In this connection attention is invited that Reliance Infrastructure had publicly disclosed this matter on 9 February 2025, nearly 6 months ago," said a statement from Reliance Infrastructure on Friday.
"Reliance Infrastructure Limited had a net exposure of about Rs. 6,500 crore which was duly disclosed in its financial statements since 4 years. Reliance Infrastructure diligently pursued recovery of its dues in this matter. Through mandatory mediation proceedings conducted by a retired Supreme Court Judge and the mediation award filed before the Hon’ble Bombay High Court, Reliance Infrastructure arrived at a settlement to recover its 100% exposure of about Rs. 6,500 crore. Further, Mr. Anil D. Ambani is not on the Board of Reliance Infrastructure since more than 3 years i.e March 2022," the company said in the statement reviewed by the The New Indian Express.
The company further states that recovery of the Rs 6,500 crore exposure is underway through court‑monitored mediation led by a retired Supreme Court judge, with pending dues from Odisha distribution companies currently before the Bombay High Court.
Anil Ambani has been summoned by the Enforcement Directorate on August 5, 2025, in connection with a separate and broader alleged loan fraud investigation involving claims as high as Rs 17,000 crore. This case pertains to alleged diversion of loans provided by Yes Bank between 2017–2019, and is being probed under the Prevention of Money Laundering Act (PMLA).
Following the summon announcement, shares of Reliance Power and Reliance Infrastructure slumped by nearly 4.9% due to investor concern
In summary, Reliance ADA Group denies the purported Rs 10,000 crore fund diversion, maintains that exposure was limited to Rs 6,500 crore, and highlights its prior public disclosure and ongoing recovery efforts. The disagreement underscores contrasting narratives: one by SEBI and ED alleging serious corporate malfeasance, and another by Reliance portraying the issue as already addressed under due process.
Further investigation and forensic review are ongoing; the outcome could significantly escalate the regulatory and legal challenges facing the Group.