- By Raju Kumar
- Tue, 05 Aug 2025 09:17 AM (IST)
- Source:JND
Anil Ambani Bank Loans Fraud: Anil Ambani, Reliance Group Chairman, questioned by the Enforcement Directorate (ED) on Tuesday (August 5) in a money laundering case linked to an alleged bank loan fraud worth Rs 17,000 crores against his group companies. The businessman left his Mumbai house this morning to appear before the probe agency.
Earlier, the federal probe agency had also issued a Look Out Circular (LOC) against the 66-year-old businessman to prevent him from travelling abroad.
On August 1, the ED summoned Ambani for questioning in a money laundering case linked to an alleged bank loan fraud. The Reliance Group Chairman was asked to depose at the ED headquarters in Delhi on August 5, as the case was registered in the national capital.
The news agency PTI, citing sources, reported that the agency will record his statement under the Prevention of Money Laundering Act (PMLA) once he deposes.
The development comes days after the ED conducted searches at 35 premises of 50 companies and 25 people linked to Ambani. The massive ED searches was launched between July 24 to 27.
What Is The Case Against Ambani?
According to the ED alleged financial irregularities and collective loan "diversion" pegged at more than Rs 17,000 crore by multiple group companies of Ambani, including Reliance Infrastructure (R Infra). The agency found, on the basis of a Sebi report, that R Infra "diverted" funds disguised as inter-corporate deposits (ICDs) to Reliance Group companies through a company named CLE.
The ED also alleged that R Infra did not disclose CLE as its "related party" to avoid approvals from shareholders and audit panels.
A Reliance Group spokesperson said in a statement that the allegation regarding alleged diversion of Rs 10,000 crore to an undisclosed party was a 10-year-old matter and the company had stated in its financial statements that its exposure was only around Rs 6,500 crore. Reliance Infrastructure had publicly disclosed this matter on February 9, 2025, nearly six months ago, the statement said.
(With PTI inputs)