NEW DELHI – The Enforcement Directorate (ED) has told well-known businessman Anil Ambani to come before the agency on August 5, 2025. Sources close to the situation revealed on Friday that this step is part of the ED’s continuing probe into money laundering in a loan fraud case involving several thousand crores of rupees.
An official said that Ambani will probably be asked a lot of questions concerning loans made to two specific companies: Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Ltd (RCFL). They are also looking into the possible misuse of these large amounts of money.
A lot of raids happened before the summons.
The summons comes after the financial crimes investigate agency carried out a number of aggressive raids last week. The ED looked at over 50 businesses and 25 people, including several high-level officials from the former Reliance Anil Dhirubhai Ambani Group enterprises. These raids, which lasted three days and ended on July 27, were about supposed financial problems and the “diversion” of more than ₹10,000 crore in loans by several group companies.
A big portion of the investigation is looking at the loans that Yes Bank gave to RHFL and RCFL. In both of these cases, the Central Bureau of Investigation (CBI) has named Rana Kapoor, who used to be the head of Yes Bank, as a suspect. An ED officer said last week, “Preliminary investigations have shown a well-planned and thought-out scheme to cheat banks, shareholders, investors, and other public institutions out of public money.”
The ED’s results show that Yes Bank’s loan clearance processes for Reliance Anil Ambani Group Companies were “grossly” wrong. Officials said that “Credit approval memorandums (CAMs) were backdated, and investments were suggested without any due diligence or credit analysis, which went against the bank’s credit policy.” It is further said that “in violation of the terms, these loans were sent to many group companies and shell companies.”
Key Claims and Money Figures Being Looked At
A second officer involved in the investigation pointed out that RHFL’s corporate loans went up dramatically, from ₹3,742.60 crore in Fiscal Year (FY) 2017-18 to a shocking ₹8,670.80 crore in FY 2018-19. This is a time when the ED is looking into possible irregularities and cash diversion. ED authorities have also said that Reliance Communications Ltd. (RCOM) is being looked into for a loan fraud that is said to have cost more than ₹14,000 crore. The ED says that RHFL and RCFL gave out loans of ₹12,524 crore, most of which went to companies that were connected to the Reliance Anil Ambani Group. Loans worth ₹6,931 crore have been labeled as non-performing assets (NPAs).
It is said that a forensic audit ordered by Yes Bank found that RHFL had sent about ₹2,965 crore to associated entities, and that ₹1,353 crore of this sum had become NPAs. The ED is looking into a relationship where Yes Bank promoters reportedly “received” money in their businesses immediately before the loans were given out. This raises the possibility of a “bribe” and loan link.
Reliance Group’s Position
Last Monday, a Reliance Group official who didn’t want to be named said, “Anil Ambani stepped down from the RCOM board in 2019.” Anil Ambani is not on the boards of any Reliance Group firms right now. The official went on to say that RCOM and RHFL are no longer part of the “Reliance Group.” Now, only two companies are identified as part of the group: Reliance Infrastructure Ltd and Reliance Power Ltd.
The official said of RCOM, “Reliance Communications Limited (RCOM) has been under the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016, for more than six years.” The official responded to the loan fraud claims by saying that the State Bank of India (SBI) had not given Anil Ambani a chance to speak in person before labeling his account as “fraud.” They also said that SBI had “dropped similar allegations against other notices on identical grounds,” but Ambani was not given the same treatment.
Reliance Infrastructure and Reliance Power both said in their stock exchange filings that they knew of the ED’s actions but that the raids had “absolutely no impact” on their business operations, financial performance, shareholders, workers, or any other stakeholders.
The Enforcement Directorate is still looking into these alleged financial problems, and the summons to Anil Ambani is a big step forward in the high-profile case.