LoC issued against Anil Ambani as ED probes alleged multi crore loan fraud and quid pro quo

A quick look (LOC) was issued against Anil Ambani, Chairman of the Board of Directors of Anil Dhirubhai Ambani (ADAG), at the request of the Directorate of Enforce (ED), where the agency intensifies investigations into alleged bank fraud in bank loans that pass through thousands of graves.

ADAG president was also called to appear at the ED headquarters in Delhi on August 5. His statement will be registered under the law of Money Laundering (PMLA). Several executives from his group companies were also called in the coming days.

ED operations followed intense inspections last week in 35 buildings linked to 50 companies and 25 individuals, including the Relination Group Executior. These operations, which were conducted from July 24, are from three days, from the allegations of financial violations and the transfer of more than 17,000 rupees by several ADAG companies, including the accreditation infrastructure (RINFRA).

Quoted from the SEBI report, The ED claims that RNFRA has directed money as deposits between companies (ICDS) through a company called Cle to other Rellece Group entities. According to the failure of RNFra, the CLE detect as a relevant party, bypassing mandatory approvals.

A spokesman for the Rellence Group Group, said that the issue is related to the issue of a decade of age, which includes 6,500 rupees, not 10,000 rupees. R. Infra revealed publicly in February 2025, and has since reached a settlement through the mediation imposed by the court to restore the entire exposure. The company also noticed that Ambani was not in the Roard of R. Infra since March 2022.

ED separately investigates a loan of 3000 rupees of rupees provided by the Bank of yes to ADAG companies between 2017 and 2019. Investigators believe that yes bank promoters received money in their personal fears before sanctions on loans, indicating the presence of Quid Pro Quo.

Moreover, the agency audits Yes Bank, pointing to violations such as expected approval notes, lack of due care, and the financially vulnerable entities with departments and intertwined addresses.

The issue of money laundering depends on the first subtieces and inputs from Seebi, the National Housing Bank, NFRA, and Barouda Bank. ED is suspected of a deliberate plan for general funds and misleading financial institutions.

The Union government recently in parliament revealed that the State Bank in India has classified RCOC and Ambani as “fraud” accounts and is preparing to file a CBI complaint. Fraud of a loan of 1050 rupees that included RCCOA and Canara Bank also, along with allegations related to unannounced external accounts and investment of 2850 rupees in AT-1 bonds through the Rellence Muter Fund box.

(With PTI inputs)