ED Questions Anil Ambani For Over Eight Hours In ₹40,000-Crore Bank Fraud–Linked Probe

· Free Press Journal

Mumbai: The Enforcement Directorate (ED) on Thursday questioned Anil Ambani, chairman of the Reliance Group, for more than eight hours in connection with an alleged Rs 40,000-crore bank fraud-linked money-laundering case.

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The 66-year-old businessman reached the federal probe agency’s office in central Delhi at around 10.30 a.m. and left late in the evening after his statement was recorded under the provisions of the Prevention of Money Laundering Act (PMLA). This was his second round of questioning; he had earlier been examined in August 2025.

Officials said the ED examination primarily focused on the sanction and utilisation of loans, the flow of funds between group entities, and transactions flagged during the course of the investigation. Investigators are understood to have confronted him with financial documents, corporate records and details of internal decision-making arrangements linked to the alleged irregularities. Further questioning has not been ruled out.

The ED initiated an investigation based on an FIR registered by the Central Bureau of Investigation (CBI) under various provisions of the Indian Penal Code and the Prevention of Corruption Act against Reliance Communications (RCOM),Anil Ambani and others.

According to the agency, RCOM and its group companies availed loans from domestic and foreign lenders from 2010–2012 onwards, of which a total of Rs 40,185 crore remains outstanding. Nine banks have declared the loan accounts of the group as “fraud”.

Ambani and several group entities are facing allegations of loan fraud. The ED has recently constituted a Special Investigation Team (SIT) to probe these instances, following directions from the Supreme Court of India. According to information furnished by the ED to the apex court, it has filed three money-laundering cases against the Anil Dhirubhai Ambani Group (ADAG) to investigate charges of bank loan fraud and other financial irregularities.

The probe has revealed that loans taken by one entity from a bank were allegedly utilised to repay loans availed by other group entities from different banks, besides being transferred to related parties and invested in mutual funds, in alleged violation of the terms and conditions of sanction letters. The ED has alleged that RCOM and its group companies diverted over Rs 13,600 crore towards “evergreening” of loans. Additionally, over Rs 12,600 crore was allegedly diverted to connected parties and more than Rs 1,800 crore invested in fixed deposits and mutual funds, which were subsequently liquidated and rerouted to group entities.The agency also alleged misuse of bill discounting mechanisms to channel funds to related parties and said certain loans were siphoned off abroad through foreign outward remittances.

CBI Conducts Searches At Anil Ambani’s Office And Residence In Reliance Communications Ltd Loan Case

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On Wednesday, the ED provisionally attached Mr. Ambani’s Mumbai residence, ‘Abode’, valued at Rs 3,716 crore, under the provisions of the Prevention of Money Laundering Act.

Officials said the questioning of anil ambani,primarily focused on the centred on the sanction and utilisation of loans, the flow of funds between group entities, and transactions flagged during the course of the investigation. Ambani’s statement was recorded under the PMLA, and investigators are understood to have confronted him with financial documents,financial decisions and corporate arrangements linked to the alleged irregularities. Further questioning has not been ruled out, depending on the assessment of his deposition and additional evidence collected during the probe.

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