Anil Ambani summoned by ED in ₹17,000 crore loan fraud case for questioning on August 5

The Enforcement Directorate (ED) has summoned Reliance Group chairman Anil Ambani for recording his statement under the Prevention of Money Laundering Act (PMLA) on August 5 in connection with an alleged bank loan fraud case.

Mr. Ambani has been asked to join the investigating team at the ED headquarter in Delhi. Some functionaries of the group entities have also been summoned. The summonses follow the agency’s searches at 35 locations of 50 companies and 25 individuals launched last week.

In a statement, Reliance Infrastructure said the issue pertained to an over 10-year-old matter regarding alleged diversion of ₹10,000 crore to an undisclosed related party, when the exposure as per the disclosures in the company’s financial statements was around ₹6,500 crore.

“In this connection, attention is invited that Reliance Infrastructure had publicly disclosed this matter on February 9, 2025, nearly six months ago. Reliance Infrastructure Limited had a net exposure of approximately ₹6,500 crore which was duly disclosed in its financial statements since four years. Reliance Infrastructure diligently pursued recovery of its dues in this matter,” it said.

“Through mandatory mediation proceedings conducted by a retired Supreme Court judge and the mediation award filed before the Bombay High Court, Reliance Infrastructure arrived at a settlement to recover its 100% exposure of approximately ₹6,500 crore,” said the company, adding that Mr. Ambani was not on the Board of Reliance Infrastructure since March 2022.