ED Summons Anil Ambani in Multi-Crore Loan Fraud Probe Linked to Reliance Firms

The ED has summoned Anil Ambani in a money laundering case involving suspected loan fraud linked to RHFL and RCFL. Officials allege diversion of funds via loans from Yes Bank. While Ambani no longer serves on relevant company boards, the investigation highlights serious financial irregularities under his former business group’s umbrella.

The Enforcement Directorate (ED) has summoned businessman Anil Ambani to appear before it on August 5 in connection with an ongoing money laundering investigation related to alleged loan fraud involving thousands of crores. The probe centres on financial irregularities linked to Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Ltd (RCFL), two companies previously associated with the Reliance Anil Dhirubhai Ambani Group.

According to officials familiar with the matter, the ED suspects that funds disbursed through loans—primarily from Yes Bank—were diverted to various group and shell companies. The Central Bureau of Investigation has already named former Yes Bank chairman Rana Kapoor in related cases, while the ED claims its preliminary findings suggest a deliberate scheme to mislead banks, investors, and public institutions.

The agency had earlier conducted extensive raids across 50 companies and 25 individuals, including top executives from Ambani-linked firms. The probe revealed that Yes Bank credit approval documents were allegedly back-dated and sanctioned without due diligence. Officials say this was in direct violation of the bank’s credit policies and loan conditions.

One striking detail under investigation is RHFL’s sharp rise in corporate loan disbursements, which more than doubled in a single financial year—from ₹3,742.60 crore in 2017–18 to ₹8,670.80 crore in 2018–19. Separately, the ED is examining a ₹14,000 crore loan fraud allegedly committed by Reliance Communications Ltd (RCOM).

A Reliance Group spokesperson claimed that Anil Ambani has not held any board position in RCOM since 2019 and that RCOM and RHFL are no longer part of the group. The companies under ED scrutiny are said to be undergoing insolvency proceedings or operating independently of Ambani’s current business interests.

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Despite the ongoing investigation, Reliance Infrastructure and Reliance Power stated in regulatory filings that recent ED actions have not impacted their operations.