Our Founder & MD, Mr. Shriram Subramanian Shares Views on ED Raids and Banking Failures Across Major News Channels

ED’s recent raids on Anil Ambani’s Reliance ADAG companies have once again brought governance failures in India’s financial system into sharp focus. Our founder and MD, Mr Shriram Subramanian, shared his expert views on NDTV Profit, Republic TV, and ET Now, highlighting how “phone banking” allowed powerful promoters to override institutional credit checks.

He also highlighted the weak internal controls, particularly in Yes Bank and public sector banks, which led to large loans being sanctioned without robust project evaluation. While Yes Bank has since undergone a management overhaul, legacy issues, such as the AT1 bond write-offs and long-drawn-out recovery cases, continue to affect investor confidence.

He also pointed out that the ADA group’s classification as a “fraud account” by SBI and Canara Bank, alongside SEBI’s market ban, prefigured the ED’s current PMLA-focused probe.

Watch here: NDTV Profit: https://www.youtube.com/watch?v=wWfPoJ6lINs

Republic TV: https://www.youtube.com/watch?v=pJGY9YnYc0A

ET Now: https://www.youtube.com/watch?v=CsfVSqTRBKY