Reliance Group Chairman Anil Ambani appeared before the Enforcement Directorate (ED) on Thursday for a second round of questioning in connection with an alleged bank fraud-linked money laundering case involving his group companies. Officials confirmed that the 66-year-old industrialist reached the federal agency’s office in central Delhi at around 10:30 am, where investigators recorded his statement under the provisions of the Prevention of Money Laundering Act (PMLA).
The latest appearance marks a continuation of the ED’s ongoing probe into financial dealings linked to Reliance Communications (RCOM), once a flagship telecom venture of the Anil Dhirubhai Ambani Group (ADAG). Ambani was earlier questioned by the agency in August 2024 as part of the same investigation. Officials indicated that the questioning is focused on examining the alleged flow of funds and the company’s loan transactions.
According to the ED, the investigation pertains to an alleged bank fraud of over ₹40,000 crore involving RCOM. The agency has claimed that suspected laundered funds were diverted through multiple foreign subsidiaries and offshore entities linked to the telecom firm. Investigators are examining financial trails and corporate structures to determine the extent of any wrongdoing.
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As part of the probe, the ED in January arrested former RCOM president Punit Garg. Officials said the arrest was linked to the agency’s findings regarding the alleged diversion and misuse of loan funds. The case forms part of a broader scrutiny of financial irregularities connected to companies under the ADAG umbrella.
The ED has also recently constituted a special investigation team (SIT) to examine multiple allegations of loan fraud involving Ambani and his group firms. The SIT was formed following directions from the Supreme Court of India, which has been monitoring related proceedings. Investigators are expected to coordinate findings across several connected cases.
In a significant parallel development, the ED on Wednesday attached Ambani’s Mumbai residence ‘Abode’, valued at ₹3,716 crore, under the anti-money laundering law. According to information submitted by the agency to the apex court, three separate money laundering cases have been registered against the Anil Dhirubhai Ambani Group to probe alleged bank loan fraud and other financial irregularities.