The Ministry of Corporate Affairs has handed the latest investigation to its specialised agency, the SFIO, widening the government’s crackdown on the Anil Ambani–led Reliance Anil Dhirubhai Ambani Group (ADAG). The move follows earlier probes by the Enforcement Directorate (ED), Central Bureau of Investigation (CBI), and market regulator Securities and Exchange Board of India (Sebi), all examining alleged violations of corporate governance norms and diversion of funds across group entities.At least four Re ...

Ambani once led one of India’s most visible corporate empires, the Reliance ADA Group, spanning telecom, power, infrastructure and finance. For much of the early 2000s, his ventures symbolised post-liberalisation ambition. Over the past decade, and particularly in the past few years, the group has been under sustained financial and legal strain. What began as a crisis of debt and operational decline has spiralled into a complex tangle of fraud allegations, money-laundering probes and asset seizures.The Enf ...