The Enforcement Directorate (ED) has summoned Reliance Group chairman Anil Ambani for questioning on August 5 in a high-profile money laundering investigation tied to an alleged Rs 3,000 crore bank loan fraud. The probe targets loans extended by Yes Bank Ltd. to Ambani’s group companies between 2017 and 2019, with suspicions of illegal fund diversion and possible quid pro quo arrangements.

The ED’s actions follow extensive raids on July 24, conducted under the Prevention of Money Laundering Act, targeting 50 companies and 25 individuals, including senior executives of the Anil Ambani Group. The searches, spanning three days, focused on uncovering evidence of financial irregularities. Investigators are examining whether Yes Bank promoters received financial benefits prior to loan approvals, suggesting a coordinated scheme.

Reliance Power and Reliance Infrastructure, in statements to stock exchanges on July 26, claimed the ED’s actions would have “no impact” on their operations, financial performance, or stakeholder interests. However, the probe signals a deepening crackdown on financial misconduct involving major corporate entities, with authorities expected to escalate their efforts in the coming weeks.

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