The Enforcement Directorate (ED) has officially summoned Reliance Group Chairman Anil Ambani in connection with a massive loan fraud and money laundering case. The summons, dated August 5, comes just a week after extensive raids were conducted at over 35 locations, including corporate offices and residences tied to Ambani’s business empire.
Anil Ambani Called for Questioning Under PMLA
According to highly placed official sources, 66-year-old Anil Ambani has been asked to appear before ED officials at the agency’s headquarters in New Delhi. His statement will be recorded under the Prevention of Money Laundering Act (PMLA). This move is part of an ongoing investigation into alleged illegal loan diversion and financial irregularities amounting to over ₹14,000 crore.
The action follows the three-day-long raids that began on July 24, 2025, targeting premises linked to over 50 companies and 25 individuals, most of them top officials from Anil Ambani Group companies. The coordinated crackdown extended across multiple locations in Mumbai and included offices of Reliance Power, Reliance Infrastructure, and Reliance Communications.
ED Investigation Focused on Yes Bank Loan Scam
Central to this investigation is a set of transactions dating back to 2017 to 2019, when Yes Bank reportedly disbursed over ₹3,000 crore in loans to various Reliance Anil Dhirubhai Ambani Group (ADAG) companies. ED officials suspect that a significant portion of these loans were siphoned off or diverted through shell entities and overseas accounts.
Sources indicate that Yes Bank promoters may have received kickbacks from group companies shortly before or after the loans were sanctioned. This has triggered a parallel probe into a suspected bribery and quid-pro-quo nexus involving both lenders and borrowers.
Multiple Regulatory Inputs Triggered Federal Action
The ED’s sweeping action is reportedly based on detailed intelligence and evidence received from multiple regulatory and financial watchdogs. These include:
National Housing Bank (NHB)
Securities and Exchange Board of India (SEBI)
National Financial Reporting Authority (NFRA)
Bank of Baroda
Central Bureau of Investigation (CBI)
Two FIRs registered by the CBI have also been cited as key sources of evidence. Authorities believe that loan funds were systematically misused, and several high-ranking officials played a role in covering up the financial trail.
SBI Labels Anil Ambani and RCom as ‘Fraud’
In a closely linked development, the State Bank of India (SBI) has recently designated Reliance Communications (RCom) and its promoter Anil Ambani as “fraud” under RBI’s fraud risk guidelines. The classification was made official on June 13, 2025, with the bank informing the Reserve Bank of India (RBI) on June 24.
Following this, RCom’s resolution professional informed the Bombay Stock Exchange about SBI’s decision as a part of regulatory compliance. SBI is now reportedly preparing a formal complaint to be filed with the CBI, adding another legal layer to the growing list of financial litigations against the group.
Alleged Diversion of ₹10,000+ Crore Across ADAG Entities
The total amount under scrutiny goes well beyond ₹3,000 crore, with some estimates placing the alleged fraud at over ₹14,000 crore, involving multiple ADAG firms. Raids by the ED reportedly unearthed evidence of undisclosed foreign assets, offshore bank accounts, and irregular loan utilization.
Particularly, Reliance Communications is accused of defrauding Canara Bank of over ₹1,050 crore, which forms part of the larger scam figure. Sources suggest the ED is examining forensic audit reports, email trails, and financial statements to build a water-tight case under the PMLA.
Reliance Firms Claim Business Unaffected
In an apparent damage control move, Reliance Power and Reliance Infrastructure issued separate clarifications to the stock exchanges, claiming that the raids and investigation have “no impact on their business operations, financial performance, employees, or stakeholders.”
Despite the reassurances, investor confidence has taken a hit, with shares of ADAG companies witnessing increased volatility in the aftermath of the ED action. Legal experts believe that more summons and arrests could follow, depending on the outcome of the questioning on August 5.
Timeline of Events: A Breakdown
| Date | Event |
|---|---|
| July 24, 2025 | ED launches multi-city raids on Ambani-linked firms |
| July 26, 2025 | Raids conclude after 3 days; over 35 premises searched |
| June 13, 2025 | SBI classifies RCom and Anil Ambani as ‘fraud’ |
| June 24, 2025 | SBI informs RBI of fraud classification |
| July 1, 2025 | RCom informs BSE about SBI action |
| August 5, 2025 | Anil Ambani summoned to appear before ED |
Undeclared Foreign Assets Under Scanner
A significant aspect of the ED’s probe now involves tracing foreign assets allegedly held by Anil Ambani and his companies. Preliminary findings hint at undisclosed bank accounts in tax havens, potentially used for round-tripping funds back into Indian ventures. This could expose the business tycoon to additional charges under India’s Black Money Act, apart from PMLA.
What’s Next for Anil Ambani?
With the ED’s net tightening, legal proceedings against Anil Ambani are set to intensify. His statement on August 5 will be critical in determining the future course of action. Depending on his responses and the evidence gathered, the agency may initiate:
Further custodial interrogations
Provisional attachment of assets
Chargesheets under PMLA
Criminal complaints through CBI
Multiple financial institutions are also gearing up to initiate civil suits for recovery, while auditors and compliance officers at ADAG companies may face disciplinary action.
Public and Political Reaction
The latest summons has revived intense public scrutiny over corporate governance and high-profile loan frauds in India. With Anil Ambani once ranked among the world’s richest, the fall from grace adds to the narrative of unchecked corporate borrowing and regulatory lapses in the banking sector.
Political parties have begun demanding greater transparency and stringent penalties, with opposition leaders alleging “crony capitalism and regulatory compromise.”
Conclusion: India’s Financial Vigilance Tightens
The ED’s decisive action against Anil Ambani reflects a growing trend in India’s enforcement landscape, where even the most prominent industrialists are no longer immune from prosecution. With alleged financial misconduct exceeding ₹14,000 crore, this case may soon join the list of India’s largest corporate frauds, reshaping the narrative around white-collar crime accountability.
As the nation waits for the August 5 questioning, all eyes are on the ED headquarters in Delhi — and on the future of a business empire now under the most intense spotlight.
