Industrialist Anil Ambani arrived in New Delhi on Tuesday following a summons from the Enforcement Directorate (ED) for questioning in connection with a massive ₹17,000-crore loan fraud case. He is scheduled to appear at the ED headquarters later today.
Earlier, on August 1, the ED had issued a Look Out Circular (LOC) against Ambani to prevent any attempt to leave the country while the investigation is underway. The agency has not yet released an official statement on the summons.
The ongoing probe is related to alleged financial irregularities and potential violations under the Prevention of Money Laundering Act (PMLA). Anil Ambani’s statement is expected to be pivotal in the investigation.
This development comes nearly a week after the ED conducted a massive search operation across 35 premises, targeting over 50 companies and 25 individuals linked to the Reliance Anil Dhirubhai Ambani Group (RAAGA). These raids, conducted on July 24, followed an FIR filed by the Central Bureau of Investigation (CBI).
According to officials, the ED’s investigation is based on leads and data shared by agencies such as the National Housing Bank, SEBI, National Financial Reporting Authority (NFRA), and Bank of Baroda.
“Preliminary findings suggest a deliberate scheme to divert and siphon off public funds by misleading banks, shareholders, and other public institutions. Allegations of bribes paid to bank officials, including a promoter of Yes Bank Limited, are also under scrutiny,” an official familiar with the case told ANI.
The ED has also uncovered suspected loan diversions worth ₹3,000 crore from Yes Bank during the period between 2017 and 2019.
Meanwhile, Reliance Power and Reliance Infrastructure—two major RAAGA-linked companies—have issued statements clarifying that the ED probe has no bearing on their business operations, financial performance, or stakeholder interests.
