ED Issues Fresh Summons To Anil Ambani As Money Laundering Probe Expands
The summons come just two days after the agency provisionally attached assets worth over Rs 7,500 crore linked to Ambani and his group companies under the Prevention of Money Laundering Act (PMLA).
The Enforcement Directorate (ED) has reportedly summoned Reliance Group chairman Anil Ambani again for questioning on 14 November in connection with an ongoing money laundering probe.
The summons come just two days after the agency provisionally attached assets worth over Rs 7,500 crore linked to Ambani and his group companies under the Prevention of Money Laundering Act (PMLA), reported PTI citing sources.
The attached properties include Ambani's residence at Pali Hill in Mumbai, along with several commercial and residential assets belonging to Reliance Group entities.
Among them is a land parcel associated with Reliance Centre on Maharaja Ranjit Singh Marg in Delhi, as well as properties located across major Indian cities, Delhi, Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai, and East Godavari. According to agency estimates, the total value of the attached assets stands at Rs 3,084 crore.
Probe into Diversion of Public Funds
The money laundering case under investigation involves the alleged diversion of funds raised by Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL).
Between 2017 and 2019, Yes Bank reportedly invested Rs 2,965 crore in RHFL and Rs 2,045 crore in RCFL through different financial instruments. By the end of 2019, these investments turned non-performing, with Rs 1,353.50 crore outstanding for RHFL and Rs 1,984 crore for RCFL, according to the agency.
The ED has alleged that funds meant for legitimate business purposes were instead diverted to related entities, forming part of a larger pattern of financial irregularities. The broader probe covers suspected loan diversions of more than Rs 17,000 crore across various Reliance Group companies, including Reliance Infrastructure.
Previous Raids and QuestioningAmbani was questioned by the ED earlier in August following extensive raids carried out on 24 July at 35 premises associated with 50 companies and 25 individuals linked to the Reliance Group. These searches formed part of the agency’s investigation into alleged financial mismanagement within group entities.
Reliance Infrastructure Maintains Business StabilityAmid the ongoing scrutiny, Reliance Infrastructure issued a statement clarifying that the ED’s actions will not affect its core operations. "There is no impact on the business operations, shareholders, employees, or any other stakeholders of Reliance Infrastructure Limited," the company said in its filing to the BSE. It further added that Anil Ambani has not been part of the board for more than three and a half years.
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