ED summons Anil Ambani for questioning on Aug 5

New Delhi, Aug 1: The Enforcement Directorate has summoned Reliance Group Chairman Anil Ambani for questioning on August 5 in a money laundering case linked to an alleged bank loan fraud worth crores of rupees against his group companies, official sources said on Friday.

The federal probe agency has also notified a Look Out Circular (LOC) against the 66-year-old businessman to stop him from travelling abroad, the sources said.

He has been asked to depose at the ED headquarters in Delhi on August 5 as the case has been registered here.

According to the sources, the agency will record his statement under the Prevention of Money Laundering Act (PMLA) once he deposes.

Some executives of Ambani’s group companies have been also been summoned over the next few days.

The summons come after the federal agency conducted searches at 35 premises of 50 companies and 25 people, including executives of his business group, last week. The searches, launched on July 24, went on for three days.

The action pertains to alleged financial irregularities and collective loan “diversion” pegged at more than Rs 17,000 crore by multiple group companies of Anil Ambani, including Reliance Infrastructure (R Infra).

The agency found, on the basis of a Sebi report, that R Infra “diverted” funds disguised as inter-corporate deposits (ICDs) to Reliance Group companies through a company named CLE. It is alleged that R Infra did not disclose CLE as its “related party” to avoid approvals from shareholders and audit panels.

A Reliance Group spokesperson said in a statement that the allegation regarding alleged diversion of Rs 10,000 crore to an undisclosed party was a 10-year-old matter and the company had stated in its financial statements that its exposure was only around Rs 6,500 crore.

Reliance Infrastructure had publicly disclosed this matter on February 9, 2025, nearly six months ago, the statement said.

“Through mandatory mediation proceedings conducted by a retired Supreme Court judge and the mediation award filed before the Hon’ble Bombay High Court, Reliance Infrastructure arrived at a settlement to recover its 100 per cent exposure of Rs 6,500 crore,” it said.

The company added that Ambani was not on the board of R Infra since more than three years (March 2022).