Anil Ambani grilled by ED in loan fraud case
New Delhi, Aug. 6 -- The Enforcement Directorate (ED) on Tuesday questioned industrialist Anil Ambani in connection with its probe into alleged loan fraud worth thousands of crores by his group companies.
The 66-year-old businessman reached the ED headquarters around 11 am and was extensively interrogated about multiple loans given to the group companies,the alleged diversion of those funds and his own role, people familiar with the development, who didn't want to be named, said.
During the questioning, Anil Ambani has told the ED investigators that he had no role in regular financial decisions of his group companies and same are taken by the senior executives, according to an officer.
He sought a week's time to hand over additional documents sought by the agency. He will again be questioned after that, this officer added.
The financial crimes probe agency last week carried out searches at the premises of 50 companies and 25 people, including senior executives of Reliance Anil Dhirubhai Ambani Group companies.
Officials said that the action pertains to alleged financial irregularities and collective loan diversion pegged at more than Rs.17,000 crore by multiple group companies, including Reliance Infrastructure (R Infra).
Based on a Sebi report, ED found that R Infra allegedly diverted funds disguised as inter-corporate deposits (ICDs) to the Anil Ambani-led Reliance Group companies through a company named CLE. It is alleged that R Infra did not disclose CLE as its related party to avoid approvals from shareholders and audit panels.
Officials cited above said the ED is looking at some instances of loans given to Reliance ADAG entities with weak financials, a lack of proper documentation of loans and due diligence, borrowers having common addresses and common directors in their companies, etc.
In a statement last week, a spokesperson for the Reliance Group, said the allegation regarding the alleged diversion of Rs.10,000 crore to an undisclosed party was a 10-year-old matter and the company had stated in its financial statements that its exposure was only around Rs.6,500 crore. Reliance Infrastructure (R Infra) had publicly disclosed this matter on February 9, 2025, nearly six months ago, the company spokesperson said.
Anil Ambani left the ED office around 9 pm after nearly nine to 10 hours of questioning, with a lunch break inside the agency office only....
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