ED Summons Anil Ambani in Rs 7,500 Crore Bank Fraud Case
The Enforcement Directorate has summoned industrialist Anil Ambani for questioning on November 14 in connection with a major bank fraud and money laundering investigation involving over Rs 7,500 crore.
Key Developments
- Anil Ambani summoned for November 14 questioning
- ED attaches properties worth Rs 7,500 crore in the case
- Includes Ambani’s family home and commercial assets
- Reliance Group claims no business impact from attachments
Details of the Money Laundering Case
The 66-year-old Reliance Group Chairman will be questioned about an alleged bank loan fraud at State Bank of India. This marks his second appearance before the federal probe agency, having been questioned previously in August.
Major Asset Attachments
In a significant move, the ED issued four provisional orders under PMLA on October 31, attaching 42 properties including:
- Ambani’s family residence in Pali Hill, Mumbai
- Multiple residential and commercial properties of group companies
On Monday, the agency issued a fifth order seizing 32 acres of Dhirubhai Ambani Knowledge City land in Navi Mumbai valued at Rs 4,462 crore. These assets are linked to Reliance Communications and the ongoing bank fraud investigation.
Reliance Group’s Response
Despite the massive asset attachments, Reliance Group maintains that business operations remain unaffected. In stock exchange filings, the group stated that most attached assets belong to Reliance Communications, which is currently under the control of Resolution Professional and creditor committees led by SBI.
The group emphasized that the ED’s actions have not impacted the functioning of its listed companies.
