Anil Ambani Summoned by ED Over Alleged ₹3,000 Crore Loan Fraud

The Enforcement Directorate has summoned Anil Ambani to answer questions related to an alleged ₹3,000 crore loan fraud involving Yes Bank. This follows extensive searches at multiple locations linked to the Reliance Group. The investigation is focused on potential misappropriation of loans and possible bribery involving bank officials. Reliance Power has stated that the actions taken by the ED do not impact its operations or financial health. This case stems from a broader probe initiated after a First Information Report was filed by the Central Bureau of Investigation. Read on for more details about this developing story.

By Narendra Chaudhary Aug 1, 2025, 17:43 IST

ED Summons Anil Ambani

The Enforcement Directorate (ED) has called upon Anil Ambani, chairman of the Reliance Group, to appear for questioning regarding a suspected ₹3,000 crore bank loan fraud. He is expected to report to the ED's headquarters in Delhi on August 5.

This summons comes after the agency conducted extensive searches on July 24 at various locations in Mumbai, which are reportedly associated with Ambani. The raids, which took place at over 35 sites and concluded on July 27, are part of an investigation into money laundering involving firms under the Reliance Anil Dhirubhai Ambani Group.

The ED is investigating claims of unlawful misappropriation of loans amounting to ₹3,000 crore, which were issued by Yes Bank to companies within the group from 2017 to 2019. The agency is also examining the possibility of a quid pro quo arrangement, including alleged bribes to Yes Bank officials, potentially involving its promoters.

The agency's search operations spanned 35 locations across 50 companies, with more than 25 individuals reportedly connected to the money laundering investigation.

"The ED's actions have concluded at all sites. The company and its officials have fully cooperated and will continue to do so with the authorities. This action does not affect the business operations, financial performance, shareholders, employees, or any other stakeholders of the company. The allegations seem to relate to transactions involving Reliance Communications Limited (RCOM) or Reliance Home Finance Limited (RHFL), which are over a decade old," stated a spokesperson for Reliance Power.

"Reliance Power operates as a distinct and independent listed entity with no financial ties to RCOM or RHFL. RCOM has been undergoing the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016, for more than six years. RHFL has been fully resolved following a ruling from the Hon’ble Supreme Court of India. Mr. Anil D. Ambani is not part of the Board of Reliance Power. Therefore, any actions taken against RCOM or RHFL do not influence the governance, management, or operations of Reliance Power," the spokesperson added.

This development follows an investigation initiated by the ED concerning alleged money laundering activities by companies within the Reliance Anil Ambani Group (RAAGA), which was prompted by a First Information Report (FIR) filed by the Central Bureau of Investigation (CBI).