ED Quizzes Anil Ambani's Son in Yes Bank Loan Case
A large portion of these loans later turned into non-performing investments, resulting in losses of about Rs 3,300 crore for Yes Bank, the agency has alleged.
NEW DELHI: The Enforcement Directorate on Saturday questioned Jai Anmol Ambani, son of industrialist Anil Ambani, for the second consecutive day in a money-laundering case linked to an alleged bank loan fraud.
The statements of 34-year-old Anmol Ambani were recorded under the Prevention of Money Laundering Act (PMLA) for the first time on Friday, and the session was continuing on Saturday, officials said.
The ED probe is related to Yes Bank, which, according to the officials, had an exposure of about Rs 6,000 crore in the Reliance Anil Dhirubhai Ambani Group as of March 31, 2017, which doubled to Rs 13,000 crore within a year. The companies involved included Reliance Home Finance Limited and Reliance Commercial Finance Limited.
A “large” portion of these investments turned into non-performing investments and the bank, subsequently, suffered a loss of Rs 3,300 crore from these dealings, the agency alleged. The ED had earlier questioned Anil Ambani in an alleged bank loan fraud case against the Reliance Group companies.
