Anil Ambani Appears Before ED in ₹17,000 Crore Money Laundering Probe

New Delhi, August 5, 2025 – Reliance Group Chairman Anil Ambani appeared before the Enforcement Directorate (ED) on Tuesday in connection with a major money laundering case linked to alleged loan frauds amounting to over ₹17,000 crore involving several of his group companies, officials confirmed.

Ambani, 66, arrived at the ED’s office in central Delhi at around 11 a.m. His statement is being recorded under provisions of the Prevention of Money Laundering Act (PMLA).

Background of the Case

The summons follows a large-scale ED operation conducted on July 24, which involved raids at 35 premises connected to over 50 companies and 25 individuals, including top executives of the Reliance Group, primarily in Mumbai.

Central to the investigation are allegations that Ambani’s companies, including Reliance Infrastructure (R Infra), were involved in the illegal diversion of loans, particularly funds secured from Yes Bank between 2017 and 2019, totaling around ₹3,000 crore.

Sources say that Yes Bank promoters allegedly received money in their own companies before approving the loans to Ambani’s firms, indicating a suspected “bribe-loan nexus.”

Alleged Violations and Loan Diversion

The ED is examining a series of “gross violations” in loan approvals, including:

  • Backdated credit approval memos
  • Lack of due diligence and credit analysis
  • Disbursal of loans to shell companies and entities with weak financials
  • Common addresses and directors across borrower companies

The investigation draws on findings from multiple sources including the CBI, SEBI, National Housing Bank, National Financial Reporting Authority, and Bank of Baroda.

Additionally, a SEBI report alleges that R Infra routed funds disguised as inter-corporate deposits (ICDs) through a company called CLE, which was not disclosed as a related party, thereby bypassing approvals from shareholders and audit committees.

Reliance Group’s Response

A Reliance Group spokesperson denied all allegations, calling the ₹10,000 crore diversion claim outdated and clarified that their actual exposure was about ₹6,500 crore, which was publicly disclosed on February 9, 2025. The company added that the dispute had been addressed through court-approved mediation and that Ambani has not been on the board of R Infra since March 2022.

Other Investigations

The ED is also probing:

  • RCOM’s loan fraud case worth over ₹1,050 crore involving Canara Bank
  • Alleged undisclosed foreign assets and bank accounts
  • ₹2,850 crore invested by Reliance Mutual Fund in AT-1 bonds, where a quid pro quo is suspected

In a recent parliamentary session, the Union government confirmed that State Bank of India (SBI) had declared RCOM and Ambani as “fraudulent entities” and was preparing to file a complaint with the CBI.

As the probe continues, ED officials have indicated that this is one of the largest money laundering cases involving a corporate group, and more disclosures are expected in the coming weeks.

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