New Delhi : Trouble mounts for prominent industrialist Anil Ambani, as the Enforcement Directorate (ED) has issued a summons in connection with a ₹17,000 crore bank loan fraud case. The agency has directed Ambani to appear for questioning on August 5 at its Delhi headquarters.
According to reports, the case involves allegations of financial misappropriation, including diversion of bank loans through shell companies and utilization of funds for unauthorized purposes, amounting to money laundering violations.
Key Allegations and Developments:
- ED Summons Issued to Anil Ambani in money laundering investigation
- CBI has registered two separate FIRs into the alleged fraud, triggering ED action
- Loans taken between 2017 and 2019 by Ambani-led companies from a consortium of banks
- Loans allegedly diverted to other firms unrelated to the sanctioned business purpose
- Funds used through shell companies, bypassing regulatory norms
- Many of the loans were taken without adequate collateral or guarantees
- SEBI submitted a report to ED and other central agencies highlighting financial irregularities
- ED conducted raids at 50 locations linked to Ambani’s companies
- 25 company officials questioned, financial records and digital data seized
