In a Rs. 17,000 crore bank fraud and money laundering case, the ED summons Anil Ambani once more.

Anil Ambani, the chairman of the Reliance Anil Dhirubhai Ambani (ADA) group, has once again been summoned by the Directorate of Enforcement (ED) to be questioned in a money-laundering and bank fraud probe involving alleged cash diversion and bad loans totaling approximately Rs17,000 crore. According to media sources, the 66-year-old billionaire has been invited to appear before the agency on November 14th for a new round of interrogation.

After his initial appearance in August, Mr. Ambani has now received two calls from the agency. Reliance Communications Ltd (RCOM), Reliance Home Finance Ltd (RHFL), Reliance Commercial Finance Ltd (RCFL), Reliance Infrastructure Ltd (R-Infra), and Reliance Power Ltd are among the group firms of Anil Ambani that have been the subject of several accusations regarding financial irregularities. Investigators claim that these organizations obtained large loans from lenders in the public and private sectors, then misappropriated the money in defiance of banking laws. The central bureau of investigation (CBI) filed a first information report (FIR) under Sections 120-B, 406, and 420 of the Indian Penal Code and provisions of the Prevention of Corruption Act, according to ED authorities, which is the basis for the current inquiry. Anil Ambani, RCOM, and other top officials were mentioned as implicated in the case. The probe focuses on loans taken out between 2010 and 2012 from both domestic and foreign institutions; the total amount owed is currently more than Rs40,000 crore. The agency stated that the loan accounts of the Reliance ADA group had been deemed fake by five banks, including the State Bank of India (SBI). A large amount of the loaned funds were allegedly mishandled or misdirected, according to the directorate. According to a statement released earlier this week by ED, "loans taken by one entity were used for repayment of loans by other group entities, transferred to related parties, or invested in mutual funds – all in violation of loan terms." According to investigators, more than Rs13,600 crore was utilized for "evergreening" loans, Rs12,600 crore was transferred to affiliated parties, and roughly Rs1,800 crore was invested in mutual funds and fixed deposits that were then liquidated and transferred to group entities. Additionally, the agency has discovered cases of foreign remittances being used to pump money overseas and misuse of bill-discounting facilities to move funds. Under the Prevention of Money Laundering Act (PMLA), the ED has temporarily attached properties valued at more than Rs7,500 crore as part of the same investigation. The attachments include of 42 additional properties worth Rs3,083 crore connected to RCOM, RCFL, and RHFL, as well as 132 acres of land in Dhirubhai Ambani Knowledge City (DAKC), Navi Mumbai, valued at Rs4,462.81 crore. According to agency statistics, the total value of attached assets is currently more than Rs7,545 crore. The summons to Mr. Ambani, according to media sources, is a part of a broader effort to track down the ultimate beneficiaries of the monies and ascertain whether business and personal accounts were used to conceal profits of crime or launder money.

Banks reported widespread defaults and disparities in credit utilization, which sparked the legal action against Mr. Ambani's group companies. In a complaint over RCOM, which owes more than Rs40,000 crore to several lenders as of 2018, State Bank of India (SBI) alone claimed a loss of Rs2,929 crore. Since then, one of the biggest corporate fraud and money-laundering investigations in India has included the alleged financial mismanagement and fund diversion across Reliance ADA group firms. Regarding the most recent summons, Anil Ambani has not made any public remarks. His representatives have previously insisted that all group transactions were carried out in accordance with legal and regulatory requirements.

At relation to the continuing money-laundering probe into the Reliance Communications Ltd (RCOM) bank fraud case, the ED temporarily seized more than 132 acres of land at the Dhirubhai Ambani Knowledge City (DAKC) complex in Navi Mumbai earlier this week. The land is worth at over Rs4,462 crore. The Prevention of Money Laundering Act, 2002 (PMLA) has been followed in making the attachment. After an inquiry was started based on a first information report (FIR) filed by the Central Bureau of inquiry (CBI) against RCOM, its promoter Anil Ambani, and others, the special task force (STF) at the ED headquarters completed the temporary attachment. In addition to sections 13(2) and 13(1)(d) of the Prevention of Corruption Act, 1989, the FIR was filed under sections 120-B (criminal conspiracy), 406 (criminal breach of trust), and 420 (cheating) of the Indian Penal Code.

Between 2010 and 2012, RCOM and its affiliated businesses obtained loans totaling around Rs40,185 crore from both domestic and overseas lenders, according to ED. Since then, these loan accounts have been labeled as fake by at least five banks. According to the agency, its probe has revealed widespread financial mismanagement and diversion. In blatant breach of the conditions of the loan, loans from one bank were reportedly transferred to connected firms or used to repay loans from another. According to ED, more than Rs13,600 crore was routed for "evergreening" of loans, while another Rs12,600 crore was sent to related parties. Before being liquidated and returned to group businesses, an extra Rs1,800 crore was held in mutual funds and fixed deposits. More than 42 assets of the Reliance ADA group worth more than Rs3,083 crore were temporarily attached by ED under PMLA on October 31, 2025. Reliance Infrastructure Ltd., Adhar Property Consultancy Pvt Ltd, Mohanbir Hi-Tech Build Pvt Ltd, Gamesa Investment Management Pvt Ltd, Vihaan43 Realty Pvt Ltd (formerly Kunjbihari Developers Pvt Ltd), and Campion Properties Ltd were among them. The Pali Hill home, the Reliance Centre on Maharaja Ranjeet Singh Marg in New Delhi, and a number of commercial and residential properties spread throughout Delhi, Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai, Kancheepuram, and East Godavari were among the prominent assets that were previously attached.

The attachments dated October 2025 were a part of continuing investigations into alleged bank frauds involving borrowings from Yes Bank by Reliance Commercial Finance Ltd (RCFL) and Reliance Home Finance Ltd (RHFL) as well as borrowings from the State Bank of India by RCOM. In a corporate loan fraud case connected to a significant commercial conglomerate, the most recent action represents one of the biggest property attachments made by the ED. According to officials, the STF is still identifying assets owned by individuals and group entities linked to the purported money laundering.

According to ED officials, the agency's primary goal is still to recover and return the proceeds of crime—which are sometimes concealed by intricate business structures—to the financial institutions that were deceived in these situations. The most recent attachments follow a thorough search by ED on July 24 of this year at 35 locations connected to 50 businesses and 25 people associated with the Ambani-led group. Senior executives from Reliance Home Finance and other associated companies were among those raided.

Anil Ambani was questioned by the ED in August about relationships between the many group firms under investigation, inter-corporate loans, and alleged money flows. According to officials, his statements and other financial documents found during the searches are being assessed. The total amount of financial irregularities in the Reliance group, including numerous financing transactions and purported fund diversions between 2006 and 2019, has been estimated by ED to be over Rs17,000 crore.

Investigative website Cobrapost recently released a report claiming that the Reliance ADA group had committed "a massive banking fraud" of around Rs28,874 crore since 2006, adding to Mr. Ambani's problems. According to the research, money obtained by a number of listed ADAG companies through bonds, bank loans, and public offerings was embezzled through a convoluted web of layered transactions and shell corporations. The Reliance Group rejected the Cobrapost claim in a statement, calling it "a malicious, baseless, and motivated campaign" that was allegedly spearheaded by business competitors looking to damage the company's reputation. The organization insisted that all of its financial dealings were open and compliant with relevant regulations.

The Reliance ADA group, which has seen numerous financial and regulatory setbacks over the past ten years, is now under even more scrutiny thanks to ED's continuous actions. RCOM, the group's telecom business, filed for bankruptcy in 2019, and a number of other finance and infrastructure businesses have been facing insolvency and debt defaults. According to officials, the attached assets will be placed under provisional attachment for 180 days, during which time the ED will request confirmation of the attachment from the PMLA's adjudicating body. If the agency finds that the assets are the proceeds of a crime, they may be subject to additional confiscation procedures after confirmation.