Industrialist Anil Ambani visited the Enforcement Directorate (ED) office in New Delhi to provide a statement as part of an ongoing money laundering investigation linked to Reliance Communications Ltd (RCOM). He arrived around 11 AM after being summoned by the agency.

The ED recently attached Ambani’s luxury Mumbai residence, “Abode” in Pali Hill, valued at Rs 3,716.83 crores. This follows previous attachments related to RCOM investigations, including properties worth Rs 473.17 crores. Cumulatively, assets tied to these probes now exceed Rs 15,700 crores.

Background of the Investigation

The probe stems from a First Information Report (FIR) filed by the Central Bureau of Investigation (CBI) against RCOM, Anil Ambani, and associated entities. Allegations involve fraudulent loan transactions, diversion of funds, and non-disclosure of related-party transactions. Reports indicate that RCOM and its affiliates owe over Rs 40,185 crores in domestic and foreign loans.

In August 2025, the ED recorded Ambani’s statement regarding a Rs 17,000-crore fraudulent loan case. RCOM’s loans exceeding Rs 14,000 crores are under scrutiny, and the State Bank of India, following RBI guidelines, classified the company and its promoter as fraudulent. Canara Bank has also alleged a Rs 1,050-crore defrauding incident.

Scrutiny of Financial Transactions

Investigations revealed questionable transactions involving Reliance Mutual Fund investing Rs 2,850 crores in YES Bank AT-1 bonds under suspicious conditions, raising concerns about public investor funds. SEBI and the ED noted irregular financial operations by Reliance Infrastructure, allegedly diverting funds as inter-corporate deposits to undisclosed associated entities without shareholder approval.

Reports indicate significant financial losses for Reliance Infra, including a Rs 5,480-crore haircut and only Rs 4 crores recovered in cash. Additional transactions worth Rs 6,499 crores were settled through dormant asset rights transfers, further complicating fund recovery.

Previous ED Actions

The ED’s Special Task Force had earlier attached over 132 acres in Dhirubhai Ambani Knowledge City, valued at Rs 4,462.81 crores, as part of the RCOM investigations. Overall, assets under ED scrutiny now exceed Rs 7,500 crores, including prior attachments of Rs 3,083 crores.

Ongoing Legal Proceedings

The central investigation focuses on alleged financial mismanagement and fraudulent activities by RCOM and its affiliates between 2010 and 2012. Multiple banks have flagged Ambani group accounts as fraudulent. The ED continues to probe international fund transfers, misuse of bill discounting mechanisms, and other irregularities to safeguard public and institutional funds.

The proceedings underscore the government’s efforts to hold prominent business figures accountable under the Prevention of Money Laundering Act, 2002, while recovering assets linked to alleged large-scale financial fraud.

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