Anil Ambani grilled for 9 hrs by ED; likely to be summoned again in loan fraud case

New Delhi: Reliance Group Chairman Anil Ambani faced a gruelling nine-hour interrogation at the Enforcement Directorate (ED) headquarters in New Delhi on Tuesday, as part of the agency’s investigation into an alleged Rs 17,000-crore loan fraud case involving multiple companies from his conglomerate.

This was the first round of questioning, and sources indicate that the regulator is set to summon Ambani for further rounds in the coming days. The industrialist has reportedly requested 7–10 days to present documents related to the alleged financial irregularities.

Ambani, 66, was called in under the Prevention of Money Laundering Act (PMLA) as the multi-pronged probe examines suspected laundering and financial wrongdoing across his group’s firms, including Reliance Infrastructure and Reliance Communications.

During the session, Ambani is understood to have denied any personal involvement or knowledge of illicit activities. He maintained that financial decisions were taken by his companies’ internal boards and that he only signed off on them subsequently. Authorities questioned Ambani about whether any group loans were routed to shell companies or if any officials were bribed in the process. Sources say the interrogation was recorded on camera, and Ambani was not allowed legal counsel during the process.

Earlier in the day, Ambani left his Mumbai residence and travelled to the ED headquarters, arriving for the high-profile session. The investigation is focused on whether loans taken by various group companies over the last decade were used for their intended purposes or deliberately diverted for other uses. Key companies under the scanner include Reliance Infrastructure and Reliance Communications.

One focal point is the alleged diversion of about Rs 3,000 crore in loans from Yes Bank between 2017 and 2019. Another major angle involves a much larger fraud, over Rs 14,000 crore, related to Reliance Communications.

The ED and Central Bureau of Investigation (CBI) have intensified their efforts. Last week, raids were executed at several locations linked to Ambani’s companies in Mumbai and Delhi, resulting in the seizure of a trove of documents, hard drives, and other digital records.

The broader investigation follows the Yes Bank loan fraud case and is probing allegations of fund diversion, loan fraud, and money laundering — all reportedly involving several entities from the Reliance Group. The agencies are expected to keep up interrogation and scrutiny in the coming days as the case develops.

With inputs from IANS