Anil Ambani, chairman of the Reliance Anil Dhirubhai Ambani Group|Picture Credit: PRASHANT WAYDANDE
8 days after performing searches, the Enforcement Directorate has actually summoned Reliance Anil Ambani Group (RAAGA) Chairman Anil Ambani, asking him to stand for questioning on August 5 in a cash washing probe versus declared big scale scams devoted by his group.
Ambani, 66, has actually been asked to depose before the private investigators at the head office in the nationwide capital so his declaration can be taped under the Prevention of Money Laundering Act (PMLA).
On Saturday, the firm performed searches at 35 facilities versus 25 individuals and 50 business to collect proof in the PMLA case.
The RAAGA underwent searches over charges of enjoying monetary abnormalities that included cumulative loan “diversion” of more than 10,000 crore by numerous group business of Ambani.
The sweeping probe covers abnormalities in handling more than one business.
The ED took control of the CBI examination into monetary abnormalities versus the RAAGA. Sources stated that of the charges under probe is likewise the one in which the group is declared to have actually diverted loans of around 3,000 crore drawn from Yes Bank in between 2017 to 2019. The loans are declared to have actually been “diverted” to numerous group business and “shell” (fake) business by the entities included.
The ED, the sources had actually stated, has actually discovered that right before the loan was given, Yes Bank promoters “got” cash in their issues.
The detectives have actually got help from other firms and organizations– consisting of the Securities and Exchange Board of India (SEBI), National Housing Bank, National Financial Reporting Authority (NFRA) and Bank of Baroda– in its probe versus the Anil Ambani group of business.
After the 3 days of raids were over on Sunday, Reliance Group companies Reliance Infrastructure (RInfra) and Reliance Power (RPower) had actually stated they will continue to work together with the federal probe company.
“The action by ED has actually concluded at all areas. The business and all its authorities have actually completely worked together and will continue to work together with the authority,” RPower stated in its most current stock market filing.
The business continues to run in the typical course and the stated action has no effect on its company operations, stated 2 different declarations released by both RInfra in addition to RPower.
On the day of the raids likewise, the Group had actually provided a comprehensive explanation and specified that “the media reports appear to relate to claims worrying deals of Reliance Communications Limited (RCOM) or Reliance Home Finance Limited (RHFL) which are over 10 years old.”
Released on August 1, 2025
