Saturday, March 29, 2025
New Delhi, August 5, 2025 —
The Enforcement Directorate (ED) is set to question businessman Anil Ambani today in connection with a massive ₹17,000 crore bank loan fraud investigation. Ambani has been summoned to appear at the ED headquarters in New Delhi by 11 AM as part of the ongoing probe into financial irregularities involving multiple companies under his control.
According to officials, the investigation centers around allegations that loans sanctioned to various firms within the Anil Ambani Group were fraudulently disbursed and later funneled through shell companies. Several of these transactions were allegedly backed by fake bank guarantees.
Between 2017 and 2019, Yes Bank reportedly disbursed loans worth approximately ₹3,000 crore to entities affiliated with Ambani. The ED has found that, in many cases, funds were transferred to the borrowers even before the loan applications were formally processed or approved — raising serious concerns about procedural violations and intent to defraud.
Moreover, some of the companies that received loans submitted documentation after the funds were already released. In certain instances, the approval and disbursal of loans occurred on the same day, suggesting a premeditated effort to mislead the lending institutions.
The ED’s investigation also uncovered that significant portions of these loans were routed through shell companies, many of which lacked verifiable addresses or had directors whose identities and records did not align. In one notable case, Odisha-based Biswal Tradelink Pvt Ltd allegedly issued fake guarantees amounting to over ₹68 crore for three Anil Ambani companies. The firm’s director, Partha Sarathi Biswal, has already been arrested.
In addition to the current case, a separate major fraud allegation looms over Ambani’s telecom venture — Reliance Communications. The State Bank of India has classified over ₹14,000 crore in loans to the company as fraudulent. Sources indicate that the Central Bureau of Investigation (CBI) is preparing to register a formal complaint.
Earlier, the ED conducted coordinated raids across more than 35 locations, targeting over 50 companies and 25 individuals connected to the case. Investigators seized a large volume of documents and digital evidence, which reportedly support the claims of financial misconduct.
In light of the investigation, a lookout circular has been issued against Anil Ambani to prevent any potential attempt to flee the country. Authorities have also started probing his companies’ overseas properties and bank accounts. Additionally, six top officials from associated entities have been summoned, while notices have been served to 35 banks asking why timely alerts were not raised when loans turned into Non-Performing Assets (NPAs).
