Tag: AnilAmbani

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SC orders SIT probe in Anil Ambani bank fraud

The Supreme Court directed a Special Investigation Team (SIT) to probe alleged bank loan fraud involving Anil Dhirubhai Ambani Group (ADAG), reportedly worth around ₹40,000 crore.

The bench criticised the CBI and ED for delays and limited FIR filings despite multiple bank complaints, noting each complaint warrants separate action. The court emphasised the probe must be fair, thorough, and timely.

Anil Ambani’s counsel submitted an undertaking that he will not leave India without the Court’s permission. The SC stressed accountability and transparency in investigating alleged collusion by company and bank officials.

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Corporate

Anil Ambani Summoned Again on Nov 14

Anil Ambani, chairman of the Reliance ADAG Group, has been summoned by the Enforcement Directorate (ED) for questioning on 14 November 2025 in connection with a money-laundering investigation.

The probe concerns alleged financial irregularities at Reliance Communications Limited (RCOM) and related group companies, where repayments of borrower loans were reportedly redirected to other entities, allegedly in contravention of sanction terms. Investigators say over ₹13,600 crore was diverted for loan evergreening, ₹12,600 crore channeled to connected parties, and over ₹1,800 crore invested in fixed deposits and mutual funds.

Earlier this week, the ED provisionally attached 132 acres of land at the Dhirubhai Ambani Knowledge City in Navi Mumbai, valued at approximately ₹4,463 crore. In all, the agency has attached assets valued at more than ₹7,545 crore in the case so far.

The bank fraud reportedly involves outstanding loans of around ₹40,185 crore, dating back to borrowings taken between 2010-12, some of which five banks have declared as fraud. The ED’s investigation remains ongoing.

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