Bank loan fraud linked PMLA case: Anil Ambani appears before ED
Reliance Group Chairman Anil Ambani appeared before Enforcement Directorate in bank loan 'fraud' linked PMLA case. The central probe agency has also summoned many Reliance Group officials for questioning.
New Delhi: Reliance Group chairman Anil Ambani on Tuesday appeared before the Enforcement Directorate (ED) in connection with a money laundering case linked to alleged multiple bank loan fraud cases against his group companies.
Anil Ambani reached the ED office in Delhi at around 10:50 am. The central probe agency will record the statement of the businessman under the Prevention of Money Laundering Act (PMLA), PTI quoted official sources as saying.
The Reliance Group chairman appeared before the Enforcement Directorate after the probe agency conducted multiple raids in Mumbai on July 24, 2025. Ambani was summoned after searches at 35 premises of 50 companies and 25 people.
As per standard operating procedure in large bank 'fraud' cases, a Look Out Circular (LOC) was issued against Anil Ambani. Some officials of the Reliance Group have also been summoned for questioning this week.
Notably, Sarathi Biswal, the MD of a Odisha-based company, was recently arrested by ED for allegedly providing a fake bank guarantee of Rs 68 crore for a Anil Ambani Group company.
Ambani is being questioned in connection with allegations of financial irregularities and collective loan "diversion" worth more than Rs 17,000 crore by multiple group companies of Anil Ambani, including Reliance Infrastructure.
Loan diversion case: What are the allegations
It has been alleged that an "illegal" loan diversion of around Rs 3,000 crore, was given by the Yes Bank to the group companies of Ambani between 2017 and 2019. The ED is reportedly probing whether just before the loan was granted, Yes Bank promoters "received" money in their companies or not.
PTI reported that ED is probing the alleged nexus of "bribe" and the loan.
The news agency quoted sources saying that the central probe agency is also investigating allegations of "gross violations" in Yes Bank loan approvals to these companies.
It has been alleged that sanctioned loans were "diverted" to many group companies and "shell" (bogus) companies by the entities involved.
Taking cue from a Sebi report, ED has accused Reliance Infrastructure of diverting funds to other Reliance Group firms under the guise of inter-corporate deposits (ICDs).