Reliance Infrastructure Ltd. and Reliance Power Ltd.’s shares are under scrutiny on 7 October following their clarification of SEBI show-cause notifications regarding suspected violations of the SEBI Act of 1992 and the SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003.
Reliance Power stated in a filing to the BSE that it has no exposure to CLE Private Limited and that it has received a show-cause notice from SEBI regarding Reliance Infrastructure Limited’s stake in the company for suspected violations. According to Reliance Power, the business will act appropriately in this case as directed by law.
Reliance’s Response to SEBI
In a different filing, Reliance Infrastructure stated that it had previously revealed on February 9, 2025, that the conflict pertaining to the company’s exposure with CLE Private Limited had been resolved by consent terms filed before the Hon’ble Bombay High Court’s Mediation Centre in accordance with the Mediation Act, 2023.
Following an eight-month delay, Reliance Infra reported that it has now received a Show Cause Notice from SEBI for allegedly violating the SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003, as well as the SEBI Act, 1992. According to the Mediation Act of 2023, the settlement with CLE Private Limited has already been reached and is completely operative. Reliance Infra promised to follow legal advice and take the necessary action in this case.
Reliance Declaring CPL Issue Now Fully Resolved
Reliance Infra had earlier on February 9 declared that its dispute with CPL was fully resolved, and as a result, INR 5,777.13 crore in assets and economic interests in CPL’s assets were assigned or transferred to the company. Additionally, INR 726 crore, the decreed amount, was converted into a secured loan with customary representations, warranties, and indemnity in the company’s favour.
According to Reliance Infra, Reliance Infrastructure Limited and CPL submitted the consent terms under Mediation Application No. 181/2023 to the Hon’ble Bombay High Court in accordance with the Mediation Act, 2023, in order to settle their unresolved disagreements and claims. It stated that all pending claims and disputes against CPL had been fully and definitively settled for INR 6,503.13 crore.
Quick Shots
•Reliance Power and Reliance Infrastructure shares
under scrutiny on October 7.
•EBI issued notices for alleged violations of SEBI
Act, 1992 and SEBI Regulations, 2003.
•Reliance Power confirmed no exposure to CLE Private
Limited (CPL).
•SEBI notice linked to Reliance Infra’s stake in
CPL.
•Settlement resolved through Bombay High Court
Mediation Centre under the Mediation Act, 2023.
•Despite the prior resolution, SEBI issued a notice
after 8 months.
The rise of the Ambani brothers, Mukesh and Anil, is one of India’s most inspiring business tales. Mukesh and Anil Ambani, sons of the legendary Dhirubhai Ambani, were set to grow Reliance Industries into an even bigger empire. In 2008, Anil Ambani ranked as the sixth-richest person in the world, boasting a staggering net worth of $42 billion.
But his journey soon took a dramatic turn in 2020, when he declared bankruptcy in a UK court, marking one of the most stunning downfalls in corporate India. This is the rollercoaster story of Anil Ambani, a man who went from being one of the world’s richest billionaires to declaring bankruptcy, only to now rise again, this time building business jets and clean energy assets.
The Ambitious Climb: How Anil Ambani Took the Spotlight?
The Great Reliance Split (2005)
After the death of legendary industrialist Dhirubhai Ambani in 2002, a power struggle emerged between his two sons, Mukesh Ambani and Anil Ambani, over the control of Reliance Industries. The boardroom battle soon became public and captivated corporate India. In June 2005, their mother, Kokilaben Ambani, brokered a peace deal, leading to the formal division of the Reliance empire.
Under the demerger agreement, Anil Ambani received control of several non-petrochemical businesses, including:
Telecom – Reliance Communications
Financial Services & Insurance – Reliance Capital
Power & Infrastructure – Reliance Energy (later renamed Reliance Infrastructure)
Anil’s ambition knew no bounds. In 2008, he launched the Reliance Power IPO, which became a historic market event. The IPO was:
Oversubscribed within minutes, drawing massive interest from investors.
It had received bids for 69 times the number of shares on offer, reflecting unprecedented investor enthusiasm.
Raised INR 11,500 crores ($3 billion), making it India’s largest IPO at the time.
Riding on the IPO hype, Anil’s net worth skyrocketed to around $42 billion, briefly making him the 6th richest person in the world, ahead of even his elder brother, Mukesh. It was the peak of his financial might.
Expanding the Empire: From Telecom to Tinseltown
With massive public and investor support, Anil rapidly diversified his portfolio:
Reliance Capital entered insurance, mutual funds, and consumer finance.
Reliance Infrastructure undertook large-scale EPC and urban transport projects.
In media, he launched BIG FM, acquired Adlabs Films, and even partnered with Steven Spielberg’s DreamWorks in 2009, involving $825 million in funding from Reliance, marking one of India’s boldest global entertainment deals.
The Fall of Anil Ambani: Debt, Legal Woes & Public Humiliation
The Telecom Collapse
Reliance Communications (RCom), once India’s telecom leader, couldn’t survive the Jio-led price war. Burdened by debt and failed strategies, it collapsed. A crucial $2 billion merger with MTN in 2008 also fell apart.
Failed MTN deal due to regulatory restrictions (2008)
Lost market share after Jio’s entry (2016)
Filed for bankruptcy under IBC in 2019
Ericsson Contempt
In 2019, Anil was held in contempt by the Supreme Court over unpaid dues to Ericsson. Claiming inability to pay, he faced jail, until Mukesh Ambani stepped in. It was a moment of public embarrassment.
INR 550 crore in dues unpaid to Ericsson
Anil claimed zero liquidity
Mukesh bailed him out with INR 453 crore
Court Order
A UK court has mandated that Anil Ambani pay over $700 million to Chinese banks, marking the conclusion of a high-profile legal battle that exposed the dramatic financial downfall of a businessman who was once among the world’s wealthiest tycoons.
Regulatory Crackdown & Supreme Court Blow
Anil Ambani’s financial troubles deepened in 2024 as SEBI and the Supreme Court took major actions against him. He and 24 others were banned from the securities market over fund diversion at Reliance Home Finance. The Supreme Court also struck down a massive arbitration win for his group.
SEBI barred Anil Ambani & 24 entities from the securities market for 5 years
INR 25 crore fine imposed for mismanagement at Reliance Home Finance
The Supreme Court overturned an INR 8,000 crore arbitration award to Reliance Infrastructure.
Ordered INR 3,300 crore refund to Delhi Metro Rail Corporation (DMRC)
Following a period marked by financial distress and legal hurdles, Anil Ambani set a bold new direction for his business empire in 2024–25. Shedding the high-debt, high-risk model of the past, he pivoted Reliance Group’s focus toward three strategic pillars:
Defense manufacturing
Green and renewable energy
Asset-light, debt-conscious operations
This renewed approach aligns closely with India’s national priorities, including ‘Make in India’, Atmanirbhar Bharat, and the global push for clean, sustainable energy solutions.
Reliance Power’s Turnaround
Q4 FY25 saw a dramatic turnaround: Reliance Power swung from an INR 397.6 crore loss to an INR 125.6 crore profit, committed to becoming debt-free via capital raises & cost control.
The agreement includes the delivery of 930 MW of solar power combined with a 465 MW/1,860 MWh battery energy storage system (BESS), making it Asia’s largest solar-BESS project at a single location to date, the company stated.
Reliance Power Q4FY25 Financials:
Particulars
Q4 FY25 (INR Cr)
Q4 FY24 (INR Cr)
YoY Change (%)
Revenue from Operations
1,978.01
1,996.65
-0.9%
Other Income
87.63
197.20
-55.6%
Total Income**
2,066.64
2,193.85
-5.8%
Total Expenses
1,998.49
2,615.51
-23.6%
Profit Before Tax
67.15
(463.05)
NA
Profit After Tax (PAT)
125.57
(397.56)
NA
Total Comprehensive Income
122.41
(396.62)
NA
Reliance Infrastructure’s Revival
Reliance Infrastructure also staged a comeback in FY25:
Cut standalone net debt from INR 3,831 crore to zero/near zero
Posted an INR 4,387 crore consolidated profit in Q4 FY25
Plans are underway to become fully debt-free and tap into defense & metro-rail projects, including INR 10,000 crore potential from MoD contracts
Reliance Infrastructure Financials FY25
Particulars
Q4 FY25 (INR Cr)
Q4 FY24 (INR Cr)
YoY Change (%)
Consolidated Net Profit
4,387.08
(220.00)
NA
Consolidated Operating Income
4,108.01
~4,666.00 (approx)
-12% (approx)
Adjusted EBITDA
8,876.00
~1,137.00 (approx)
+681% (QoQ)
FY Consolidated PAT
4,938.00
(1,609.00)
NA
Standalone Net Debt
0.00
~3,300.00
Reduced to zero
Big Moves in Defense & Aviation
In June 2025, Reliance took a major step into aerospace:
Partnered with Dassault Aviation to build Falcon 2000 business jets in India, the first assembly outside France
Set up the final assembly line at the DRAL facility in Nagpur, targeting the first “Made‑in‑India” Falcons by 2028
The venture was hailed as “Make in India” and triggered a 4.2% jump in Reliance Infra shares
In parallel, Reliance signed an INR 10,000 crore agreement to:
Manufacture Vulcano 155 mm precision-guided artillery shells at a greenfield plant in Maharashtra, projected to be India’s most advanced private defense production hub.
The plant is a part of the upcoming Dhirubhai Ambani Defence City (DADC) in Ratnagiri. It is expected to produce 200,000 shells annually, along with 10,000 tonnes of explosives and 2,000 tonnes of propellants.
These high-stakes ventures mark Reliance’s decisive push into critical defense and aerospace manufacturing, aligning with India’s Atmanirbhar Bharat (self-reliant India) initiative and supporting Anil Ambani’s broader corporate revival strategy.
As Anil Ambani reshapes his business empire, his sons Jai Anmol Ambani and Jai Anshul Ambani have stepped up as key drivers of the group’s revival. The next generation of the Ambani legacy is quietly but firmly taking charge, bringing fresh energy, strategic clarity, and a modern lens to the Anil D. Ambani Group (ADAG).
Jai Anmol Ambani – The Financial Brain
Anil Ambani, Tina Ambani and Jai Anmol Ambani
The elder son, Jai Anmol, previously a director at Reliance Capital and Reliance Nippon Life AMC, has taken a more hands-on role in the group’s financial restructuring.
He began his career as an intern at Reliance Mutual Fund in 2014 and rose to become Executive Director at Reliance Capital in 2017
Instrumental in raising stakes in Nippon India Asset Management.
He is popular for his focused style of leadership in financial ventures.
Conclusion
Anil Ambani’s story is a rare mix of extreme success, public downfall, and quiet reinvention. Once the 6th richest man in the world, he lost it all, facing bankruptcy, legal troubles, and market bans. But he didn’t give up. Today, with a renewed focus on defense, green energy, and debt-free growth, Anil is slowly rebuilding.
FAQs
What is Anil Ambani’s current role in Reliance Group?
Anil Ambani is Chairman of the Reliance Group, overseeing all its major listed companies, Reliance Communications, Capital, Infrastructure, Power, Defence & Engineering, among others.
How has Anil Ambani’s net worth changed in recent years?
As of March 2025, Anil Ambani’s net worth has plunged to approximately $530 million, down from a peak of $42 billion in 2008, with most of the decline unfolding over the past decade.
What is the status of Anil Ambani’s legal or bankruptcy cases?
Anil Ambani is facing multiple legal issues. In July 2025, SBI flagged Reliance Communications’ loan account as fraud. SEBI banned him from the securities market for 5 years in 2024 over fund diversion. NCLT admitted insolvency proceedings against Reliance Infrastructure, though NCLAT later paused it. He also withdrew a tax notice challenge in April 2025 and was fined.
There was a recent news where the headquarters of Reliance ADAG group which was headed by Anil Ambani, the Reliance Center, Santacruz, Mumbai was sold to Yes Bank for INR 1,200 crores. Let’s look at the reason and the details for the sale of Reliance’s headquarters.
Reliance Infrastructure is a Indian-based private sector company. The company was involved in power generation, infrastructure defense, and construction. The company is part of the Reliance Anil Dhirubhai Ambani group.
The company has undertaken a lot of projects which include power plants, metro rails, airports, toll roads, bridges, and defense. The company has a major shareholding in Reliance Power and Reliance Naval and Engineering Limited.
Reliance Infrastructure was ranked as the 51st largest corporation in Fortune India’s 500 lists of 2019 and it had the 1st rank in the category of Infrastructure Development.
Reliance Infrastructure came into existence when it took over an eighty three year old company which was undertaken by the Government which was known as Bombay Suburban Electric Supply (BSES) in the year 2002.
Reliance Infrastructure was formerly known as Reliance Energy Limited.
Reliance Infrastructure which is part of Anil Ambani’s group has sold its headquarters to Yes Bank. The amount of the sales is expected to be INR 1,200 crores. The headquarters is located in Mumbai’s Santacruz.
Reliance Center is a building with high technology office. The building has an area of 695,000 square feet on a plot of 15,514 square meters of land. Anil Ambani had shifted to this office after he had moved out of Reliance’s Ballard Estate Office.
The experts in the field of Real Estate have that the office has a prime location because the Reliance Center is close to Mumbai’s Western Express Highway.
Other than this, the office just has a 15-minute drive to Chhatrapati Shivaji International Airport Terminal that is T2 and a 10-minute drive to the Chhatrapati International Airport Domestic Terminal that is T1. The building is a stone’s throw from the Bandra-Kurla Complex business district in Mumbai.
Total Revenue of Reliance Infrastructure Ltd
Why did Yes bank took over Reliance Centre
Reliance’s ADAG group which is headed by Anil Ambani is expected to have an exposure of INR 4,000 crores which it has to pay to Yes Bank. Last year, Yes bank had said that last year it had issued a demand notice to the ADAG group to pay the borrowed amount of INR 2,892 crores.
The demand notice was sent under the SARFAESI ( Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest) Act. The dues had to be paid back by 60 days from the issue of the demand notice.
Reliance’s ADAG group had failed to pay the dues on time and Yes bank had announced that it was going to take the possession of the building due to non-payment of loans which amounted to INR 2,892 crores.
It is said that Yes bank had taken possession of the building looking at the Mumbai Airport. With this project, the Reliance Infrastructure has closed 3 different transactions which include the sale of assets. These transactions had taken place in the last 90 days.
Recently Reliance Infrastructure and Yes Bank announced that they were getting in to a sale transaction where the Reliance Centre, Santacruz, Mumbai will be sold to Yes Bank. Yes Bank which currently operates its business from One Indiabulls center in Central Mumbai is planning to convert the Santacruz office to its Corporate Head Office.
An official from the company has said that with the sale of Reliance Center, Santacruz, Mumbai Reliance Infrastructure’s debt exposure to YES Bank has been reduced. The debt exposure of INR 2,000 crores from INR 4,000 crores has been reduced.
FAQ
What is the net worth of Anil Ambani in 2020?
As per the reports declared before a UK court in February 2020 that his net worth is zero and he is bankrupt.
What does Anil Ambani owns?
Reliance Infrastructure which is an Private Sector Enterprise managing power, defense, construction and infrastructure and Reliance Power.
How many companies Mukesh Ambani have?
Mukesh Ambani has 7 companies that are, Reliance Retail, Reliance Life Sciences, Reliance Jio Infocomm Limited, Reliance Petroleum, Network 18, Reliance Industrial Infrastructure Limited, and Football Sports Development Limited.
Conclusion
Yes Bank has said that the value of the transaction of the building is expected to be INR 1,200 crores and the entire amount from the sale of Reliance Center, Santacruz, Mumbai is utilized only to pay the debt it owes to Yes Bank. The company official has said that the company is planning to be a debt-free company within 2021.
