Anil Ambani appears before ED in Rs 17,000 loan fraud case

Industrialist Anil Ambani on Thursday appeared at the Enforcement Directorates headquarters in Delhi to join a money laundering investigation against himAs reported by news agency ANI Anil deposed before the investigators at around 11 am to record his statement in the case regarding which he was summoned earlierThe move comes after the central investigation agency attached the Mumbais Pali Hill residential property Abode of the industrialist worth Rs 371683 crores in connection with its ongoing money laundering probe The probe is allegedly linked to Reliance Communications Ltds alleged bank fraud caseWATCH Mumbai Maharashtra Enforcement Directorate ED has provisionally attached the Pali Hill Residential Property lsquoAbodersquo of industrialist Anil Ambani worth Rs 371683 crores under the provisions of the Prevention of Money Laundering Act 2002 PMLA Visuals fromhellip pictwittercomiSUpEXNpjomdash ANI ANI February 26 2026EDs Special Task Force Headquarters attached the Pali Hill property under the provisions of the Prevention of Money Laundering Act 2002 PMLA Earlier part of this property was attached to the extent of Rs 47317 crores reported ANIED attaches Anil Ambanirsquos property worth Rs 15700 croreAfter attaching Anil Ambanirsquos Pali Hill property the cumulative attachment of properties in the group now stands at over Rs 15700 croreEarlier the Enforcement Directorate had also initiated an investigation based on the Central Bureau of Investigations First Information Report FIR under sections 120B 406 and 420 of the Indian Penal Code 1860 and section 132 read with section 131d of the Prevention of Corruption Act 1989 against Reliance Communications Ltd RCOM Anil Ambani and othersBriefing about the case the ED said that RCOM and its group companies availed loans from domestic and foreign lenders of which a total amount of Rs 40185 crores is outstandingOn August 5 2025 the ED had also recorded the statement of Anil Ambani on various points pertaining to loan transactions that were put to him He then sought a period of seven days to furnish the requisite details and supporting documents Anil was then further questioned in connection with an ongoing investigation into an alleged Rs 17000crore loan fraud case reported ANIED is probing the loan fraud of Reliance Communications Ltd of over Rs 14000 crores It is noteworthy that Minister of State for Finance Pankaj Chaudhary confirmed in Parliament that the State Bank of India SBI had classified Reliance Communications RCom and its promoter Anil Ambani as fraudulent in accordance with RBI guidelinesAlso the SBI reported this classification to the RBI and is preparing to file a complaint with the Central Bureau of Investigation CBIReliance Communications allegedly cheated Canara Bank of Rs 1050 croreAlong with their fraudulent financial activities with SBI Reliance Communications Ltd is also alleged to have cheated Canara Bank of more than Rs 1050 croresHighly placed sources confirmed that undisclosed foreign bank accounts and foreign assets are also being investigatedEarlier ED was also said to have found that Reliance Mutual Fund invested Rs 2850 crore in AT1 bonds of YES Bank perpetual FDs for a suspected quid pro quo These bonds were eventually written down and money was syphoned off This was the money of the public the mutual fund investors CBI is also investigating this issueBased on information received from SEBI ED has found that Reliance Infra has diverted a large sum of money disguised as ICDs to Group Companies of RAAGA through C Company an undisclosed related party company However Reliance Infra did not disclose C Company as its related party in order to avoid proper approval from the shareholders and the audit committeeFurthermore it has been found that R Infra has taken a haircut of Rs 5480 crore and only Rs 4 crore has been received in cash reported ANIThe ED while briefing about the probe said The remaining Rs 6499 crores have been settled in the form of assignment and transfer of assetseconomic rights mainly in certain Discoms These Discoms havent had any business for many years and are not operational Therefore there are zero chances of recovery of this amount The loan diversion in this case is over Rs 10000 crores as cited by ANILast year EDs Special Task Force attached over 132 acres of land in Dhirubhai Ambani Knowledge City DAKC in Navi Mumbai worth Rs 446281 crore under the Prevention of Money Laundering Act PMLA 2002With inputs from ANI