Enforcement Directorate Set to Unveil Charges in Anil Ambani's Alleged Loan Fraud Case

Chargesheet Expected in Major Money Laundering Investigation

New Delhi: The Enforcement Directorate (ED) is anticipated to submit a chargesheet on Friday as part of its investigation into a significant loan fraud estimated at Rs 40,000 crore, involving Reliance Group's chairman Anil Ambani and executives from his company, Reliance Communications (RCOM), according to official sources.

This prosecution complaint will be filed under the Prevention of Money Laundering Act (PMLA), with former RCOM president Punit Garg and several others likely to be named as defendants, sources indicate.

Punit Garg, aged 61, was taken into custody by the ED in January.

During his tenure in various senior managerial and directorial roles at RCOM from 2001 to 2025, Garg is alleged to have played a crucial role in the acquisition, possession, concealment, layering, and dissipation of illicit funds generated from the bank fraud, as claimed by the ED.

The agency asserts that the purportedly laundered money was 'diverted' through numerous foreign subsidiaries and offshore entities associated with RCOM.

In December 2025, the ED had already filed a chargesheet against Ambani's other company, Reliance Power Ltd, along with ten others, in a separate money laundering case tied to the issuance of a purported fake bank guarantee of Rs 68 crore for securing a tender.

Following directives from the Supreme Court, the federal investigation agency has established a special investigation team (SIT) to examine alleged financial misconduct by Ambani's group companies.