The Enforcement Directorate (ED) has taken significant action against Anil Ambani, Chairman of Reliance Dhirubhai Ambani Group and industrialist. In connection with the alleged ₹17,000 crore loan fraud case, the ED has summoned Anil Ambani, directing him to appear at its Delhi headquarters on August 5 for questioning.
New Delhi: A major name in the Indian industrial sector, Anil Ambani, is facing serious action from the Enforcement Directorate (ED). In the alleged ₹17,000 crore loan fraud case, the ED has not only summoned him for questioning on August 5 but has also issued a Look Out Circular (LOC) against him. This stringent measure makes it clear that the investigating agencies are adopting an even more aggressive stance regarding this matter.
What is the case about?
This action against Anil Ambani, who is the Chairman of Reliance Group (ADAG), is being taken under the Prevention of Money Laundering Act (PMLA). The ED alleges that Anil Ambani's companies misused thousands of crores of rupees in loans received from banks. Several of these loans were transferred elsewhere through shell companies.
Last week, the ED conducted raids at approximately 35 locations in Mumbai in connection with this case. These raids brought 50 companies and more than 25 individuals under scrutiny. During the raids, several important documents and digital evidence were seized.
ED Interrogation: Summons to Delhi on August 5
According to sources, 66-year-old Anil Ambani has been asked to appear at the ED headquarters in Delhi on August 5, 2025. There, he will be questioned, and his statement will be recorded. During this time, he may face questions related to loan approvals, fund transfers, and financial documents. The main focus of this interrogation is to understand the patterns of loan misuse, fraud, and money laundering.
The biggest component in this case is related to Yes Bank. According to reports, between 2017 and 2019, Yes Bank gave loans of approximately ₹3,000 crore to Anil Ambani group companies. The ED claims that these loans were given under several suspicious circumstances:
- Backdated credit approval memos
- Without any valuation or risk assessment
- Violation of the bank's credit policy
The ED suspects that money was transferred as "kickbacks" to the promoters of Yes Bank before the approval of these loans.
Role of SBI and Other Banks
The Government of India recently informed Parliament that the State Bank of India (SBI) has categorized Anil Ambani and his company RCom as a “Fraud”. Furthermore, the process of filing a complaint with the CBI by SBI has also been initiated. In addition, an investigation is also being conducted by the ED into another loan fraud of ₹1,050 crore between Canara Bank and RCom.
A Look Out Circular (LOC) means that the person concerned cannot travel outside the country. The ED has issued this circular to prevent Anil Ambani from fleeing India and to ensure his cooperation in the investigation. Previously, in several high-profile cases, accused individuals have fled abroad, and this precautionary step has been taken to prevent a recurrence.
