Mumbai: The Enforcement Directorate (ED) on Tuesday began questioning Reliance Group Chairman and Managing Director Anil Ambani in a massive money laundering and loan fraud case involving an estimated ₹17,000 crore. A key focus of the investigation is a ₹3,000 crore loan fraud connected to Yes Bank.
Ambani arrived at the ED office in Delhi earlier this morning. Visuals of his car entering the agency’s premises quickly surfaced online, drawing public and media attention. The interrogation marks a significant step in the agency’s intensified crackdown on alleged financial irregularities tied to the Reliance Group.
According to ED sources, a lookout circular was issued against Anil Ambani on August 1, barring him from leaving the country without prior approval. Officials stated that Ambani could be detained at any Indian airport if an attempt is made to travel abroad.
This high-profile questioning follows a massive enforcement operation last week, during which over 50 locations linked to the industrialist — including corporate offices and private premises in Mumbai and Delhi — were raided under Section 17 of the Prevention of Money Laundering Act (PMLA). More than 25 individuals have been questioned so far in connection with the case.
The ED’s investigation centres on loans extended by Yes Bank between 2017 and 2019 to several companies under the Reliance Group. Preliminary findings indicate that a substantial portion of these funds may have been diverted to shell companies or misappropriated internally, raising serious questions about the transparency and legitimacy of fund usage.
Investigators are also examining whether kickbacks were allegedly paid to senior officials at Yes Bank during the sanctioning of these loans. The agency aims to determine if the disbursed amounts were used for genuine business purposes or laundered through a network of fake firms.
