ED Issues Look Out Circular Against Anil Ambani in 17,000 Cr Loan Fraud Probe

The Enforcement Directorate (ED) has issued a Look Out Circular (LoC) against Anil Ambani, chairman of the Anil Dhirubhai Ambani Group (ADAG), on Friday, intensifying its investigation into an alleged Rs 17,000-crore loan fraud case.

The industrialist has been summoned for questioning on August 5 as the probe deepens. The ED’s action follows extensive searches last week across 35 locations in Mumbai, targeting 50 companies and 25 individuals linked to Ambani’s Reliance Group under the Prevention of Money Laundering Act (PMLA).

The investigation stems from FIR No. 0131/2024, filed by the Delhi Police’s Economic Offences Wing (EOW) on November 11, 2024.

Also Read: Anil Ambani Faces ED in Rs 3,000 Crore Fraud

At the heart of the probe is a fraudulent bank guarantee of Rs 68.2 crore allegedly submitted to the Solar Energy Corporation of India (SECI) by ADAG-affiliated companies, M/s Reliance NU BESS Limited and M/s Maharashtra Energy Generation Limited. The ED uncovered that the guarantee was fabricated, backed by forged communications designed to impersonate the State Bank of India (SBI). A spoofed email domain, “s-bi.co.in,” mimicking SBI’s official “sbi.co.in,” was reportedly used to deceive SECI.

The agency has approached the National Internet Exchange of India (NIXI) for domain registration records to trace the fraudulent email’s origins. As the investigation unfolds, Ambani and his business empire face mounting scrutiny over the alleged financial irregularities.

Also Read: ED Raid Day 3: Anil Ambani Group Companies Raid Intensifies