Anil Ambani Faces Second Round of ED Questioning in Major Bank Fraud Probe
Reliance Group chairman Anil Ambani appeared before the Enforcement Directorate (ED) in New Delhi on Thursday for a second round of questioning. This session is part of an ongoing money laundering investigation connected to alleged bank fraud involving his group companies.
Details of the Questioning Session
The 66-year-old businessman arrived at the agency's office in central Delhi around 10:30 am. Officials confirmed that his statement would be recorded under the provisions of the Prevention of Money Laundering Act (PMLA). This marks Ambani's second appearance before the ED, following his initial questioning in August 2025.
Scope of the Investigation
The investigation centers on an alleged bank fraud exceeding Rs 40,000 crore involving Reliance Communications (RCOM), a key company within the Anil Dhirubhai Ambani Group (ADAG). Ambani and several of his companies are facing serious allegations related to loan fraud and financial irregularities.
The ED has informed the Supreme Court that it has registered three distinct money laundering cases against ADAG entities as part of this comprehensive probe into alleged bank loan fraud and related violations. In response to recent directions from the apex court, the agency has established a special investigation team (SIT) to examine multiple cases involving the group.
Recent Asset Attachment
In a significant development on Wednesday, the ED attached Ambani's Mumbai residence, known as 'Abode', under the anti-money laundering law. This property, valued at Rs 3,716 crore, is located in Mumbai's prestigious Pali Hill area. The structure stands 66 meters high and spans across 17 floors, representing a major asset in the investigation.
Broader Implications
This case highlights the intensifying scrutiny on corporate financial practices in India. The establishment of the SIT and the attachment of high-value assets demonstrate the seriousness with which authorities are pursuing allegations of financial misconduct. The investigation continues to unfold, with potential implications for corporate governance and banking sector regulations.
