The directorate of enforcement (ED) has summoned Reliance Anil Dhirubhai Ambani (ADA) group chairman Anil Ambani to appear for questioning on 5 August 2025 in connection with an alleged multi-crore loan fraud and money laundering investigation involving his group companies. According to reports, ED also issued a lookout circular (LOC) against the Reliance ADA group chief to stop him from travelling overseas.
Mr Ambani has been reportedly asked to depose at the ED headquarters in New Delhi, where his statement will be recorded under the Prevention of Money Laundering Act (PMLA).
The summons follows three days of raids conducted by the ED from 24th July, targeting more than 35 premises in Mumbai linked to 50 companies and 25 individuals, including executives of the Reliance ADA group. Investigators seized documents, digital records, and computer peripherals during the searches.
Quoting sources from the probe agency, reports say the case stems from two first information reports (FIRs) registered by the central bureau of investigation (CBI) and multiple reports shared by regulators, including Securities and Exchange Board of India (SEBI), National Housing Bank (NHB), National Financial Reporting Authority (NFRA) and Bank of Baroda.
The investigation centres on the alleged diversion of around Rs3,000 crore in loans extended by Yes Bank to Reliance ADA group companies between 2017 and 2019. Officials claim that just before these loans were sanctioned, entities linked to Yes Bank’s promoters allegedly received funds from concerns connected to the Reliance group, suggesting a nexus of bribes and loan approvals.
ED has reportedly flagged multiple irregularities, including loans issued to companies with weak or unverified financials, common directors and addresses across multiple borrowing entities, backdated approvals and inadequate documentation in credit sanction files, evergreening of loans, where new loans were allegedly used to repay older ones and diversion of funds to group and shell companies, and suspected overseas assets.
Officials also indicated that the overall exposure under scrutiny could cross Rs17,000 crore, with alleged siphoning of public money through undisclosed foreign bank accounts and assets.
In the wake of the raids, Reliance Power and Reliance Infrastructure had notified the stock exchanges that the ED’s action had 'absolutely no impact' on its operations, financial performance, or stakeholders.
The companies stated that the media reports mainly relate to historic transactions involving Reliance Communications Ltd (RCom) and Reliance Home Finance Ltd (RHFL), insisting that Mr Ambani does not hold board positions in Reliance Power or Reliance Infrastructure and that there is no financial or business linkage with the two companies under investigation.
Last month, the Union government confirmed in Parliament that the State Bank of India (SBI) has officially classified the loan account of Reliance Communications Ltd (RCom) as 'fraud' and has reported the name of the company's former director Mr Ambani to the Reserve Bank of India (RBI), following due regulatory process.
SBI’s total exposure to the troubled telecom company stands at over Rs3,000 crore. This includes Rs2,227.64 crore in fund-based principal outstanding, along with Rs786.52 crore in non-fund-based bank guarantees, the government says.
RCom, once a key player in India’s telecom sector, is undergoing corporate insolvency proceedings under the Insolvency and Bankruptcy Code (IBC). SBI's decision to declare the account as fraud marks a significant development in the prolonged financial saga surrounding the Mr Ambani-led company and comes years after the account was first declared a non-performing asset (NPA) in 2017, retrospectively dated to August 2016. (Read:
Anil Ambani Named in Fraud Account by SBI; Rs3,000 Crore Exposure Confirmed by Govt in Parliament)
The ED’s questioning of Mr Ambani on 5 August 2025 is expected to be crucial in piecing together the alleged network of loan diversion, shell entities, and potential bribery that has put one of India’s most high-profile industrialists under the anti-money laundering scanner.
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Anmol Ambani was being painted as the next business hero, now being investigated for influencing reliance mutual fund to make dud investments.
Was the group made debt free with siphoning of funds ?? Was Anil or his son the mastermind behind the siphoning of public funds ?? Only Time, ED or CBI can tell