The Enforcement Directorate (ED) on Tuesday (August 5, 2025) recorded the statement of Reliance Group chairman Anil Ambani in connection with an alleged bank loan fraud case involving the group companies.

Mr. Ambani reached the ED office around 11 a.m. and got his statement recorded under the Prevention of Money Laundering Act.  It is learnt that during the examination, various questions pertaining to loan transactions were put to him. Mr. Ambani sought a period of seven days to furnish the requisite details and supporting documents.

The ED summoned the businessman following searches at 35 locations of 50 companies and 25 individuals in the last week of July. In a statement, Reliance Infrastructure had then said the issue pertained to an over 10-year-old matter regarding alleged diversion of ₹10,000 crore to an undisclosed related party, when the exposure as per the disclosures in the company’s financial statements was around ₹6,500 crore.

“In this connection, attention is invited that Reliance Infrastructure had publicly disclosed this matter on February 9, 2025, nearly six months ago. Reliance Infrastructure Limited had a net exposure of ~₹6,500 crore which was duly disclosed in its financial statements since four years. Reliance Infrastructure diligently pursued recovery of its dues in this matter,” it said.

“Through mandatory mediation proceedings conducted by a retired Supreme Court judge and the mediation award filed before the Bombay High Court, Reliance Infrastructure arrived at a settlement to recover its 100% exposure of ~₹6,500 crore,” said the company, adding that Mr. Ambani was not on the Board of Reliance Infrastructure since March 2022.

According to the agency, its probe is based on two first information reports registered by the Central Bureau of Investigation, besides the information shared by other agencies and institutions, such as the National Housing Bank, SEBI, National Financial Reporting Authority, and Bank of Baroda.

“Preliminary investigation by the ED has revealed well-planned and thought after scheme to divert/siphon off public money by cheating banks, shareholders, investors and other public institutions. The offence of bribing bank officials, including the promoter of Yes Bank Limited, is also under scanner,” an agency source had earlier said.

An illegal loan diversion of around ₹3,000 crore from Yes Bank (2017-2019) has also been alleged. The ED purportedly found “gross violations in Yes Bank loan approvals to Reliance Anil Ambani Group companies, “such as, Credit Approval Memorandums (CAMs) were back-dated, investments were proposed without any due diligence/ credit analysis in violation of Banks Credit Policy”.

“Dramatic increase in corporate loans by RHFL (Reliance Home Finance Limited), from ₹3,742.60 crore in FY 2017-18 to ₹8,670.80 crore in FY 2018-19 is also under the ED lens,” the source said.