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New Delhi: Reliance Group chairman Anil Ambani was questioned for over nine hours by the Enforcement Directorate (ED) on Thursday in connection with an alleged ₹40,000-crore bank fraud and money laundering case involving his group firm, Reliance Communications (RCOM).
The 66-year-old industrialist arrived at the ED headquarters in central Delhi on Thursday and left at about 8:20 pm after investigators recorded his statement under the Prevention of Money Laundering Act (PMLA). Officials said Ambani has been summoned again for further questioning in a separate case linked to alleged loan fraud involving Yes Bank.
The ED alleges that loan funds were diverted through offshore entities and foreign subsidiaries of RCOM. As part of the widening probe, the agency has already arrested former RCOM president Punit Garg and constituted a Special Investigation Team (SIT) under the Supreme Court’s directions.
The ED recently attached Ambani’s Mumbai residence, ‘Abode’, valued at ₹3,716 crore, as part of its asset-tracing exercise.
CBI Registers Fresh Case Over ₹2,220-Crore Bank of Baroda Loan Fraud
In a parallel development, the Central Bureau of Investigation (CBI) has registered a fresh FIR against Reliance Communications, Ambani, and others based on a complaint by Bank of Baroda.
The FIR alleges that the bank suffered losses exceeding ₹2,220 crore due to loans availed by Reliance Communications that were allegedly diverted and misused through fictitious transactions involving related entities.
Following the registration of the case, CBI teams conducted searches at Ambani’s residence and offices linked to Reliance Communications and seized documents related to loan transactions.
The case includes charges of criminal conspiracy, cheating, and criminal misconduct under the Prevention of Corruption Act.
Multiple Probes Intensify Scrutiny of Reliance Group’s Financial Dealings
Ambani and several group companies are currently under investigation for alleged large-scale loan fraud and financial irregularities involving multiple banks.
Investigators are examining the fund trail, offshore transactions, and possible diversion of loan proceeds to determine whether money laundering and criminal misconduct occurred. With parallel probes underway by both the ED and CBI, the case represents one of the most significant ongoing investigations into alleged corporate loan fraud involving a major Indian business conglomerate.
