Alert Issued for Anil Ambani in relation to a Rs 3,000-crore Loan Scam: Inside Sources
The Enforcement Directorate (ED) has summoned Reliance Group Chairman Anil Ambani for questioning on August 5, 2025, in connection with a money laundering probe related to a Rs 3,000-crore loan fraud case involving Yes Bank.
The investigation, which is a widening of the ED's probe into irregularities at the Reliance Group, alleges that Yes Bank loans amounting to around Rs 3,000 crore were granted to Reliance group companies despite lack of proper due diligence, poor or unverifiable financials, backdated credit approval memorandums, and violation of the bank’s credit policies.
Key details of the investigation include:
- The ED alleges that Yes Bank promoters received payments just before the loans were sanctioned, suggesting a possible quid pro quo arrangement.
- There are allegations of loan diversion and routing of funds to shell companies, loan evergreening (giving fresh loans to repay existing ones), and multiple procedural irregularities in loan documentation and approvals.
- The case originated from at least two FIRs registered by the Central Bureau of Investigation (CBI), and information shared by the National Housing Bank, SEBI, NFRA, and Bank of Baroda has been factored into the ED's probe.
- Investigations have included raids at over 35 locations involving 50 companies and 25 individuals linked to Ambani’s group.
The investigation has also pointed to a nexus of bribery where Yes Bank promoters allegedly received money from Ambani’s concerns just before the loans were sanctioned. There are also allegations of forged emails sent to deceive the Solar Energy Corporation of India (SECI) and others by appearing to be from the bank.
The case involves Biswal Tradelink, which operated several shell companies. The fake bank guarantee was issued to the SECI, and the spoofed domain used for the fake guarantee, 's-bi.co.in', is similar to the domain of the State Bank of India (sbi.co.in).
The media reports pertain to allegations concerning transactions of Reliance Communications Limited (RCOM) or Reliance Home Finance Limited (RHFL) which are over 10 years old.
Reliance Power and Reliance Infrastructure, affected companies in the group, have stated that these investigations and raids have had "absolutely no impact" on their business operations or financial performance.
The Enforcement Directorate conducted raids at over 50 firms connected to the case on July 24. However, as of the article's publication date, the ED has not provided any public statement regarding the case. It is also worth noting that a lookout circular is used to prevent individuals from leaving the country to evade prosecution, and the ED has issued a lookout circular against Reliance Group Chairman Anil Ambani in this case.
[1] The Economic Times: Enforcement Directorate summons Anil Ambani for questioning in Yes Bank loan fraud case [2] Business Standard: Enforcement Directorate summons Anil Ambani in Yes Bank loan fraud case [3] India Today: Enforcement Directorate summons Anil Ambani in Yes Bank loan fraud case [4] Mint: Enforcement Directorate raids 50 firms linked to Anil Ambani’s group in Yes Bank loan fraud case
- The Yes Bank loan fraud case, a combination of finance, business, and politics, has expanded to include allegations of bribery and forged documents, with the Enforcement Directorate (ED) investigating transactions from over ten years ago and issuing a lookout circular against Reliance Group Chairman Anil Ambani.
- General-news headlines and crime-and-justice reports continue to unfold as the ED delves into the irregularities at Yes Bank, with the probe involving Central Bureau of Investigation (CBI) FIRs, raids on over 50 firms, and suspect loan practices such as ultra vires loans, loan diversion, and multiple procedural irregularities.
