Anil Ambani, chairman of the Reliance Anil Dhirubhai Ambani Group
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PRASHANT WAYDANDE
Eight days after carrying out searches, the Enforcement Directorate has summoned Reliance Anil Ambani Group (RAAGA) Chairman Anil Ambani, asking him to appear for questioning on August 5 in a money laundering probe against alleged large scale frauds committed by his group.
Ambani, 66, has been asked to depose before the investigators at the headquarters in the national capital so his statement can be recorded under the Prevention of Money Laundering Act (PMLA).
On Saturday, the agency carried out searches at 35 premises against 25 persons and 50 companies to gather evidence in the PMLA case.
The RAAGA was subjected to searches over charges of indulging in financial irregularities which included collective loan “diversion” of more than ₹10,000 crore by multiple group companies of Ambani.
The sweeping probe covers irregularities in dealing with more than one company.
The ED took over the CBI investigation into financial irregularities against the RAAGA. Sources said that of the charges under probe is also the one in which the group is alleged to have diverted loans of around ₹3,000 crore taken from Yes Bank between 2017 to 2019. The loans are alleged to have been “diverted” to many group companies and “shell” (bogus) companies by the entities involved.
The ED, the sources had said, has found that just before the loan was granted, Yes Bank promoters “received” money in their concerns.
The investigators have got assistance from other agencies and institutions — including the Securities and Exchange Board of India (SEBI), National Housing Bank, National Financial Reporting Authority (NFRA) and Bank of Baroda — in its probe against the Anil Ambani group of companies.
After the three days of raids were over on Sunday, Reliance Group firms Reliance Infrastructure (RInfra) and Reliance Power (RPower) had said they will continue to cooperate with the federal probe agency.
“The action by ED has concluded at all locations. The company and all its officials have fully cooperated and will continue to cooperate with the authority,” RPower said in its latest stock exchange filing.
The company continues to operate in the normal course and the said action has no impact on its business operations, said two separate statements issued by both RInfra as well as RPower.
On the day of the raids also, the Group had issued a detailed clarification and stated that “the media reports appear to pertain to allegations concerning transactions of Reliance Communications Limited (RCOM) or Reliance Home Finance Limited (RHFL) which are over 10 years old.”
Published on August 1, 2025