Anil Ambani Appears Before ED in High-Profile Money Laundering Probe
Anil Ambani, the prominent industrialist, appeared before the Enforcement Directorate (ED) at its headquarters in New Delhi on Thursday. This appearance came just a day after the agency attached his Mumbai residence, valued at more than Rs 3,500 crore, in connection with a money laundering case involving his R-ADAG group entity, Reliance Communication (RCom).
Second Appearance in Banking Fraud Investigation
This marked Ambani's second appearance before the ED in this ongoing investigation. He and his associates are under scrutiny for a massive banking fraud exceeding Rs 40,000 crore linked to Reliance Communication. Ambani was previously questioned by the agency in August of last year regarding the same case but had subsequently skipped multiple summons issued by the authorities.
His interrogation on Thursday followed a commitment made to the Supreme Court, where he promised to cooperate and appear before the ED as required. The agency has been actively pursuing this case, conducting numerous search operations at Ambani's residences, offices, and the premises of several close associates to gather evidence.
Arrests and Asset Discoveries in the Case
In a significant development earlier, the ED arrested one of Ambani's close aides, Punit Garg. This arrest followed the discovery of an apartment purchase in Manhattan, New York, worth over Rs 70 crore. The agency alleges that this property was acquired using proceeds of crime laundered from bank loans obtained by one of Ambani's group entities in India.
The investigation continues to unfold, with the ED focusing on tracing the flow of funds and establishing links between the alleged fraud and the money laundering activities. Ambani's appearance is seen as a critical step in the probe, potentially shedding light on the complex financial transactions under scrutiny.
