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Enforcement Directorate summons Anil Ambani; Summoned a week after raids at several locations
Anil Ambani: The Enforcement Directorate has summoned well-known businessman Anil Ambani a week after raids at several locations. The central investigating agency has summoned Anil Ambani on August 5.
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.
