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ED Summons Anil Ambani Again on 15 November in Rs. 17,000 Crore Bank Loan Fraud Probe
The Enforcement Directorate (ED) has issued a notice to the Chairman of Reliance Group, Anil Ambani, for the second time in a bank fraud and money laundering case. He was summoned earlier by the ED in August 2025 for the same. The 66-year-old businessman has been ordered to appear before the ED on 14 November.
Investigation Focus: Fund Diversion and Evergreening
The Enforcement Directorate's probe focuses on alleged fund diversion and loan evergreening. The investigation involves a bank fraud and money-laundering case. According to the report, the total alleged bad loans amount to approximately Rs. 17,000 crore. Reliance Communications (RCom) and its group firms raised thousands of crores between 2010 and 2012 from various Indian banks. Five of those banks have declared RCom's loan accounts as fraudulent.
The agency alleges that funds were used to repay older loans, also termed as evergreening of debt. The probe found loans from one group entity repaid by borrowings of another. Over Rs. 13,600 crore was allegedly used for this loan evergreening.
Rs. 12,600 crore was reportedly transferred to concerned parties, whereas Rs. 1,800 crore went into mutual funds and fixed deposits. These were later liquidated and rerouted back to group entities, which is considered a contravention of the loan terms. Apart from this, the ED also identified the misuse of bill discounting to funnel funds.
Recent ED Action: Asset Attachments and Previous Questioning
In a recent statement, the Enforcement Directorate said, “From around 2010–12, RCOM and its group companies raised thousands of crores from Indian banks, of which Rs 19,694 crore still remains outstanding. These assets turned non-performing, and five banks have classified RCOM’s loans as fraud.”
The Enforcement Directorate has intensified its probe against the Reliance Group. The agency has provisionally attached properties under the PMLA; the total value of the attached assets now exceeds Rs. 7,500 crore. This includes a recent attachment of 132 acres of land, which comes under the Dhirubhai Ambani Knowledge City (DAKC) in Navi Mumbai.
To sum up, the ED previously questioned Anil Ambani in August 2025. He has been summoned for a second time and asked to appear before the ED on 14 November. This is part of the ongoing money-laundering investigation.