Anil Ambani Summoned by ED in Loan Fraud Investigation

Anil Ambani, chairman of Reliance Group, has been summoned by the Enforcement Directorate for questioning related to a significant loan fraud case involving Rs 17,000 crore. The investigation follows extensive raids that uncovered substantial evidence of financial misconduct, including potential money laundering and bribery. The ED is examining whether funds were misappropriated through shell companies, while the CBI has also initiated inquiries into other entities within Ambani's group. This case highlights serious allegations of financial irregularities and the misuse of public funds.

By Narendra Chaudhary Aug 1, 2025, 12:16 IST

ED Summons Anil Ambani for Questioning

Mumbai, Aug 1: The Enforcement Directorate (ED) has called upon Anil Ambani, the chairman and managing director of Reliance Group, for questioning regarding an ongoing investigation into a purported loan fraud amounting to Rs 17,000 crore.

Sources indicate that Ambani is expected to report to the ED headquarters in the national capital on August 5.

Recently, the ED concluded raids at various locations associated with Anil Ambani’s Reliance Group, where they confiscated numerous documents, hard drives, and other digital materials from several sites in Mumbai and Delhi.

These raids commenced last Thursday as part of a money laundering investigation linked to the Yes Bank loan fraud case.

The ED, in collaboration with the Central Bureau of Investigation (CBI), is conducting an extensive inquiry into money laundering activities. This operation is part of a larger investigation into alleged financial misconduct, including potential fund diversion, loan fraud, and money laundering.

The focus of the ED's investigation is to determine if bank funds were funneled through shell companies and misappropriated by group entities. Concurrently, the CBI has initiated its own investigation into other firms within Anil Ambani’s Reliance Group.

Following FIRs filed by the CBI, the ED has begun its inquiry into the money laundering activities of Reliance Group under the Prevention of Money Laundering Act (PMLA). Various agencies, including the National Housing Bank, SEBI, National Financial Reporting Authority (NFRA), and Bank of Baroda, have also provided information to the ED, as per reliable sources.

Initial findings by the ED suggest a meticulously orchestrated scheme aimed at diverting public funds by deceiving banks, shareholders, investors, and other public entities. The investigation is also scrutinizing allegations of bribery involving bank officials, including the promoter of Yes Bank Limited.

The preliminary investigation has uncovered illegal loan diversions totaling approximately Rs 3,000 crore from Yes Bank between 2017 and 2019.

The ED has discovered that shortly before the loans were approved, funds were transferred into the accounts of Yes Bank promoters. The agency is currently probing this bribery nexus in relation to the loans.