ED Summons Anil Ambani Again

NEW DELHI: The Enforcement Directorate (ED) has issued fresh summons to Reliance Group chairman Anil Ambani for questioning next week in connection with an alleged bank fraud-linked money laundering case. The 66-year-old businessman was earlier questioned by the ED in August for nearly 10 hours.

According to sources, the agency has now summoned him to appear on November 14 for questioning in a money-laundering case related to Reliance Communications Ltd (RCom) over an alleged ₹2,929 crore loan fraud involving the State Bank of India (SBI).

During his deposition, the ED is expected to record his statement under the Prevention of Money Laundering Act (PMLA), as it did during his previous examination.

The PMLA probe stems from an FIR filed by the Central Bureau of Investigation (CBI) on August 21. The CBI had also conducted searches in this case, including at Ambani’s residence in Mumbai.

The CBI’s FIR named RCom, its director Anil D. Ambani, unknown public servants, and other unidentified persons as accused, based on a complaint filed by the SBI.

According to the complaint annexed to the FIR, RCom had an outstanding debt of over ₹40,000 crore to various lenders, with SBI alone facing a loss of ₹2,929.05 crore as of 2018.

In July, the ED had carried out searches against current and former executives of Ambani’s group companies, and in the first week of August, it questioned him and recorded his statement.

The ED’s initial probe focused on alleged financial irregularities and loan “diversions” estimated at over ₹17,000 crore by multiple Anil Ambani-led group companies, including Reliance Infrastructure (R Infra).

The investigation also covers alleged illegal diversion of loans amounting to around ₹3,000 crore that Yes Bank had extended to Ambani’s group companies between 2017 and 2019.

Recently, the ED attached assets worth ₹7,500 crore as part of its investigation against the group companies. These included Ambani’s residence in Mumbai’s Pali Hill area and the Reliance Centre property in Delhi.

Following the CBI’s August action, a spokesperson for Ambani had issued a statement saying that the SBI complaint pertained to matters dating back over a decade, during which Ambani had served only as a non-executive director without involvement in the company’s daily management.

“It is pertinent to note that SBI, by its own order, has already withdrawn proceedings against five other non-executive directors. Despite this, Ambani has been selectively singled out,” the spokesperson said.