Enforcement Directorate summons Anil Ambani; Summoned a week after raids at several locations

The Enforcement Directorate (ED) has summoned Reliance Group chief Anil Ambani for questioning on August 5. Anil Ambani has been called in for a money laundering case related to alleged loan fraud involving his group companies. News agency PTI quoted official sources on Friday, saying that 66-year-old Anil Ambani has been instructed to appear at the ED headquarters in Delhi. The case has also been registered there. The agency will record his statement under the Prevention of Money Laundering Act (PMLA).

This summons follows last week’s raids on several companies and officials within his business group. The raid, which began on July 24 and lasted three days, pertained to alleged financial irregularities involving multiple Anil Ambani group companies and the diversion of over Rs 10,000 crore in loans. As part of the ED operation, over 35 premises in Mumbai were raided, belonging to 50 companies and 25 individuals, including several officials from Ambani’s group.

ED sources indicated that the investigation mainly concerns allegations of illegal loan diversion of about Rs 3,000 crore from Yes Bank to Ambani’s group companies between 2017 and 2019. Two companies, Reliance Power and Reliance Infrastructure, stated to the stock exchange that the raids had no impact on their operations, financial performance, shareholders, employees, or other stakeholders.

ED sources also mentioned that they are probing allegations of illegal loan diversion of around Rs 3,000 crore from Yes Bank during that period. They believe that Yes Bank promoters received money in their own businesses just before the loans were disbursed. Consequently, the agency is examining the possible bribery and loan nexus. The investigation includes examining claims of serious violations in loan approvals by Yes Bank to Reliance Ambani group companies. The ED’s actions are based on information from various regulatory and financial bodies, including the National Housing Bank, Securities and Exchange Board of India (SEBI), National Financial Reporting Authority (NFRA), Bank of Baroda, and two FIRs filed by the Central Bureau of Investigation (CBI).

The raids followed SBI’s recent classification of Anil Ambani and Reliance Communications (RCom) as 'fraud' under its internal policies and guidelines issued by the Reserve Bank of India on June 13, 2025. According to Minister of State for Finance Pankaj Chaudhary, SBI notified the RBI of this on June 24, 2025. The bank is preparing to file a formal complaint with the CBI. On July 1, 2025, RCom's resolution professional notified the Bombay Stock Exchange about SBI's decision. 

Reliance Communications Limited faces allegations of loan fraud exceeding Rs 14,000 crore and is also accused of committing fraud with Canara Bank involving over Rs 1,050 crore. Official sources say the company's undeclared foreign bank accounts and assets are under investigation. Expect more revelations as the probe continues.