Anil Ambani Under ED Scanner in ₹3,000 Crore Loan Fraud Case; Lookout Circular Issued

National Times Bureau, Aug 2, 2025: Reliance Group Chairman Anil Ambani is under heightened scrutiny after the Enforcement Directorate (ED) issued a Lookout Circular (LOC) against him in connection with a ₹3,000 crore bank loan fraud and money laundering probe. The LOC, which prevents individuals facing serious financial crime allegations from leaving the country, has been circulated to all immigration checkpoints.

Ambani has been summoned by the ED for questioning on August 5. This development comes in the wake of a sweeping search operation on July 24, during which the agency raided over 50 companies and more than 25 individuals linked to the case. Sources confirm that the ED’s probe stems from FIRs filed by the Central Bureau of Investigation (CBI) and data provided by institutions including the National Housing Bank, SEBI, the National Financial Reporting Authority (NFRA), and the Bank of Baroda.

The ED claims that its preliminary investigation has exposed a sophisticated scheme involving the illegal diversion of public funds through fraudulent means. The agency alleges that banks, shareholders, investors, and financial institutions were defrauded. Central to the probe is a pattern of loan disbursements between 2017 and 2019 from Yes Bank, totaling around ₹3,000 crore, that were allegedly misappropriated.

Investigators have also identified potential instances of bribery involving senior Yes Bank officials, including the bank’s promoter. Notably, the ED has observed significant financial transactions to entities linked with Yes Bank promoters just prior to the approval of these questionable loans, raising suspicions of quid pro quo arrangements.

This is one of the most high-profile financial crime investigations currently underway in India, and the LOC against Ambani marks a major escalation in the probe. The ED is expected to intensify its questioning and may take further action based on Ambani’s responses and emerging financial trail details.