Mumbai, Aug 5 (IANS) Anil Ambani was set to appear for questioning at the Enforcement Directorate (ED) headquarters in New Delhi on Tuesday in the alleged Rs 17,000-crore loan fraud case.

According to reports, the chairman and managing director of Reliance Group (RAAGA companies) left his residence early in the morning to reach the ED headquarters in the national capital.

ED has summoned Anil Ambani for questioning as part of its ongoing probe into a money laundering case linked to an alleged bank loan fraud worth crores of rupees against his group companies. He had been asked to appear at the ED headquarters in the national capital on August 5.

Last week, ED raids on the premises and people linked with Anil Ambani’s Reliance Group concluded, as investigators seized voluminous documents, hard drives, and other digital records from several locations across Mumbai and Delhi

The raids first began in connection with a money laundering probe related to the Yes Bank loan fraud case. The enforcement watchdog and the Central Bureau of Investigation (CBI) conducted a large-scale money laundering probe. The operation is part of a broader investigation into alleged financial irregularities, including possible diversion of funds, loan fraud, and money laundering.

The ED’s probe is focused on whether funds from banks were routed through shell entities and misused by group firms. Meanwhile, the CBI has reportedly begun its own enquiry into other companies within Anil Ambani’s Reliance Group.

Subsequent to FIRs registered by the CBI, the ED started probing the offence of money laundering by RAAGA Companies under the Prevention of Money Laundering Act (PMLA). Other agencies and institutions also shared information with ED, such as the National Housing Bank, SEBI, National Financial Reporting Authority (NFRA), and Bank of Baroda, according to reliable sources.

Preliminary investigation by the ED has revealed a well-planned and thought-out scheme to divert/siphon off public money by cheating banks, shareholders, investors and other public institutions. The offence of bribing bank officials, including the Promoter of Yes Bank Limited, is also under the scanner.

–IANS

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