Anil Ambani Questioned by ED Over Alleged Loan Irregularities Under Money Laundering Probe

MUMBAI — Industrialist Anil Ambani on Monday appeared before the Enforcement Directorate (ED) in connection with an ongoing probe into suspected financial irregularities involving loans worth over ₹12,000 crore availed by companies linked to his Reliance Group.

Ambani was summoned under the provisions of the Prevention of Money Laundering Act (PMLA) and reportedly questioned for several hours at the agency’s Ballard Estate office. Sources say the investigation is tied to multiple FIRs registered by public sector banks, which flagged alleged defaults and potential misuse of bank loans.

The ED is examining whether these funds, borrowed by various group firms, were diverted or laundered through complex corporate layers. While no formal charges have been filed against Ambani yet, investigators are said to be scrutinising the role of top executives and board decisions taken during the loan periods.

Anil Ambani, once among the world’s richest, has seen his business empire shrink sharply over the past decade. His telecom venture collapsed under mounting debt, and several of his infrastructure and finance companies have faced insolvency proceedings.

Legal sources close to Ambani maintained that he has been cooperating fully with authorities and denied any wrongdoing. “These are legacy issues. There has been no misuse or misappropriation of funds,” a person familiar with the matter said.

The ED’s questioning comes amid a broader crackdown on corporate defaulters and financial fraud. In recent months, the agency has intensified its focus on high-profile cases involving banks and non-performing assets.

With investigations still underway, it remains to be seen whether this latest development marks a temporary inquiry or the beginning of a deeper legal battle for the embattled businessman.