Mumbai/ New Delhi, Aug. 1 -- The Enforcement Directorate (ED) has issued a 'Lookout Circular' against the chairman of Anil Dhirubhai Ambani Group (ADAG) today, barring the businessman from leaving the country.
The ED had summoned him on August five for questioning in connection with a case of loan fraud and money laundering worth Rs 17,000 crore.
The action comes amid raids conducted by the ED at more than 35 locations linked to ADAG companies in Mumbai and other cities.
A probe has been launched under the Prevention of Money Laundering Act (PMLA). It focuses on a complex network of financial irregularities and misuse of loans.
The ED suspects that Anil Ambani was allegedly involved in loan irregularities and misused borrowed funds....