The Enforcement Directorate (ED) has issued fresh summons to industrialist Anil Ambani in a fraud case after he skipped his second appearance date. The agency rejected his request for a virtual statement and directed him to appear in person next Monday.
Key Developments
- ED issues fresh FEMA summons to Anil Ambani after he skips second appearance
- Serious Fraud Investigation Office (SFIO) takes over new probe into ADAG companies
- At least four group companies under scrutiny for fund diversion
- ED recently attached assets worth nearly Rs 7,500 crore in related case
SFIO Takes Over Investigation
The government has handed over a fresh investigation into several Anil Ambani-led Reliance ADAG companies to the Serious Fraud Investigation Office (SFIO). This specialized wing of the Ministry of Corporate Affairs will examine potential corporate governance gaps and possible fund diversion across group companies.
The SFIO intervention follows earlier enquiries by the ED, CBI, and market regulator SEBI.
What Triggered the New Probe
According to sources familiar with the matter, the Ministry of Corporate Affairs received multiple alerts from auditors and financial institutions. These warnings indicated possible irregularities in financial statements of certain ADAG firms.
Forensic audits commissioned by banks, particularly following loan defaults at Reliance Capital and Reliance Communications, further raised concerns about financial practices.
Companies Under Scrutiny
Investigators are currently examining at least four entities:
- Reliance Infrastructure
- Reliance Communications
- Reliance Commercial Finance Ltd (RCFL)
- CLE Pvt Ltd
More group companies could be added if connections to fund movements are established. The intensified scrutiny follows the ED’s recent attachment of assets valued at nearly Rs 7,500 crore, including properties in Navi Mumbai, Bandra’s Pali Hill, and the Reliance Centre in New Delhi.
