Big Action by Enforcement Directorate– Noose Tightens Around Anil Ambani

National News: The Enforcement Directorate (ED) has launched a major crackdown in connection with an alleged ₹17,000 crore loan fraud linked to Anil Ambani’s companies. The agency has sent notices to 12–13 major banks seeking complete details of the loans disbursed to the Anil Ambani Group, many of which later turned into non-performing assets (NPAs). According to sources, if the responses from the banks are found unsatisfactory, bank executives could be summoned for questioning.

Anil Ambani Summoned for Questioning on August 5

On Friday, the ED issued a Look Out Circular (LOC) against Anil Ambani and summoned him for questioning on August 5. The investigation primarily focuses on loans granted to Reliance Housing Finance, Reliance Communications, and Reliance Commercial Finance.

Detailed Loan Data Sought from Banks

The ED has asked prominent lenders like SBI, Axis Bank, ICICI Bank, HDFC Bank, UCO Bank, and Punjab & Sind Bank for full documentation on loan sanctioning procedures, default timelines, and recovery actions taken. Sources suggest that any inconsistencies or gaps in these responses could lead to senior bank officials being called in for further inquiry.

Raids on 50 Companies—Fake Bank Guarantee Unearthed

In a sweeping move, the ED conducted raids at 35 locations in Mumbai under the Prevention of Money Laundering Act (PMLA), targeting 50 companies and 25 individuals linked to the Reliance Group.
Investigations revealed a startling discovery—Anil Ambani’s companies allegedly issued a fake bank guarantee worth ₹68.2 crore to the Solar Energy Corporation of India (SECI). This guarantee was issued in the name of Reliance New BESS Limited and Maharashtra Energy Generation Limited.

Fake SBI Domain Used for Forgery

To make the fraudulent guarantee appear legitimate, a counterfeit email domain “s-bi.co.in” was created, closely resembling the authentic State Bank of India domain “sbi.co.in.” The ED has approached the National Internet Exchange of India (NIXI) for registration details of this fake domain to identify those behind the forgery.

More Explosive Revelations Likely

The ED is digging deeper into the case, and further revelations are expected following Anil Ambani’s interrogation. Investigators aim to determine how the loan funds were diverted, whether there was collusion within the banks, and who all played a role in the alleged scam.

Anil Ambani’s companies have faced allegations of financial irregularities in the past, but this time, the ED’s aggressive action has added greater gravity to the situation. In the coming weeks, the investigation could expose even bigger financial wrongdoings and shocking details.