New Delhi, August 5, 2025 — Industrialist and Reliance Group Chairman Anil Ambani appeared before the Enforcement Directorate (ED) on Tuesday in connection with a sprawling money laundering investigation into alleged bank loan frauds exceeding ₹17,000 crore involving several of his group companies.
Ambani, 66, reached the ED headquarters in central Delhi around 10:50 am, arriving in an electric vehicle. His statement is being recorded under the Prevention of Money Laundering Act (PMLA), official sources confirmed.
The questioning comes just weeks after a sweeping ED operation on July 24, during which the agency raided 35 locations tied to nearly 50 companies and 25 individuals, including senior executives of the Anil Ambani-led Reliance Group.
A Look Out Circular (LOC) has been issued against Ambani to prevent any attempt to leave the country. Several top officials from his conglomerate have also been summoned for interrogation this week.
At the heart of the probe are allegations of massive loan diversions and financial misconduct, particularly around a ₹3,000 crore credit facility extended by Yes Bank between 2017 and 2019. Investigators believe large sums were funneled to shell companies and other group entities. Evidence also points to bribes allegedly paid to Yes Bank promoters prior to loan approvals.
In a related development, the ED recently arrested Partha Sarathi Biswal, managing director of an Odisha-based company, for issuing a fake ₹68 crore bank guarantee to a Reliance Group firm. Ambani may be confronted with Biswal as part of the ongoing interrogation.
The agency is also examining the alleged misuse of inter-corporate deposits (ICDs) through a company called CLE, which Reliance Infrastructure (R Infra) reportedly failed to disclose as a related party a move suspected to be aimed at avoiding regulatory scrutiny and shareholder approvals.
Reports from multiple regulatory and investigative bodies including the CBI, SEBI, National Financial Reporting Authority, Bank of Baroda, and National Housing Bank have fed into the ED’s case. These reports suggest a coordinated effort to siphon public funds by misleading banks, shareholders, and regulators.
In its defense, the Reliance Group has denied any wrongdoing. A spokesperson said the issue dates back over a decade and had been voluntarily disclosed by the company in February 2025. They also pointed to a ₹6,500 crore settlement reached through mediation, with related proceedings currently pending before the Bombay High Court. Additionally, the group emphasized that Anil Ambani stepped down from the R Infra board in March 2022.
Meanwhile, the State Bank of India recently declared Reliance Communications (RCOM) and Ambani himself as “fraudulent” in a parliamentary statement and is expected to forward the case to the Central Bureau of Investigation (CBI). Another ₹1,050 crore fraud case involving RCOM and Canara Bank is under ED scrutiny, as are allegations of undisclosed foreign bank accounts and questionable investments of ₹2,850 crore in AT-1 bonds by Reliance Mutual Fund.
With investigations expanding, financial records under deeper examination, and more executives scheduled for questioning, the ED’s probe into one of India’s most high-profile industrialists is expected to intensify in the coming weeks.
