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INDUSTRIALIST ANIL Ambani on Tuesday appeared before the Enforcement Directorate here and joined the investigation into a money laundering case linked to a multi-crore bank loan fraud involving companies of the Reliance Anil Dhirubhai Ambani Group.
Around 10.50 am, Anil reached the headquarters of ED in an EV for questioning. His statement is being recorded under the Prevention of Money Laundering Act. “The ED has recorded his statement. During the examination, various questions pertaining to loan transactions were put to him. He has sought a period of seven days to furnish the requisite details and supporting documents,” a source said.
The ED is investigating allegations of illegal diversion of loans worth Rs 3,000 crore disbursed by Yes Bank to the group’s companies between 2017 and 2019. The probe agency is also examining whether there was a quid pro quo involved in the loan — specifically, if bribes were paid to bank officials, including Yes Bank promoters.
Before summoning Anil, the ED last week arrested Partha Sarathi Biswal, managing director of Biswal Tradelink Private Limited (BTPL), in connection with an alleged fake bank guarantee case. “A probe has revealed that BTPL fraudulently arranged and submitted fake bank guarantees of Rs 68.2 crore along with forged State Bank of India (SBI) endorsements and fabricated confirmations for a Solar Energy Corporation of India (SECI) tender. For providing this bank guarantee, BTPL received Rs 5.40 crore from Reliance Power Limited,” an official said, adding that the ED is planning to confront him with Anil to get more information and to verify some allegations.
On July 24, multiple teams of ED carried out searches at over 35 locations in Mumbai linked to Anil, and concluded their investigation on July 27.
Later, a spokesperson for Reliance Power said in a statement, “The action by ED has concluded at all locations. The company and all its officials have fully cooperated and will continue to cooperate with the authority. Action by ED has no impact on the business operations, financial performance, shareholders, employees, or any other stakeholders of the company. The same appears to pertain to allegations concerning transactions of Reliance Communications Limited (RCOM) or Reliance Home Finance Limited (RHFL), which are over 10 years old.”
“Reliance Power is a separate and independent listed entity with no business or financial linkage to RCOM or RHFL… Mr Anil D Ambani is not on the Board of Reliance Power. Accordingly, any action taken against RCOM or RHFL has no bearing or impact on the governance, management, or operations of Reliance Power,” it said.
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