The Enforcement Directorate (ED) has summoned Reliance Group Chairman and Managing Director Anil Ambani for questioning in connection with its investigation into an alleged Rs 17,000-crore loan fraud.
Sources familiar with the matter confirmed that Ambani has been directed to appear before the ED headquarters in New Delhi on 5 August.
The summons follows a series of searches conducted last week at premises associated with Ambani’s Reliance Group.
The raids, which took place in Mumbai and Delhi, led to the seizure of a substantial volume of documents, hard drives, and other digital evidence.
The ED launched the operation as part of a broader money laundering investigation linked to the Yes Bank loan fraud case, which also involves the Central Bureau of Investigation (CBI).
Both agencies are examining alleged financial misconduct, including fund diversion, loan fraud, and the use of shell companies.
The ED is specifically examining whether group firms misappropriated bank loans through fictitious entities.
CBI Conducting Parallel Investigation
Meanwhile, the CBI has reportedly initiated a separate investigation into other businesses under the Reliance Group umbrella.
Based on FIRs filed by the CBI, the ED began investigating possible money laundering activities by RAAGA Companies under the Prevention of Money Laundering Act (PMLA).
Key institutions, including the National Housing Bank, SEBI, National Financial Reporting Authority (NFRA), and Bank of Baroda, are likely to have shared critical intelligence with the ED.
Preliminary findings by the agency suggest a deliberate and coordinated attempt to divert public funds, defraud banks, and mislead investors and regulatory bodies.
The investigation has also brought to light allegations of bribery involving senior banking officials, including a promoter of Yes Bank Limited.
Initial evidence points to the illegal diversion of approximately Rs 3,000 crore in loans from Yes Bank between 2017 and 2019.
The ED has uncovered transactions indicating that the promoters of the bank received funds in their personal accounts just before loan sanctions, an alleged link now under intense scrutiny.
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