ED Summons Anil Ambani In ₹17,000 Crore Loan Fraud Case; Raids Uncover Fake Bank Guarantees, Suspicious Transactions

New Delhi, August 1 (TNA) Anil Ambani, Chairman and Managing Director of Reliance Group, has been summoned by the Enforcement Directorate (ED) for questioning in connection with a massive ₹17,000 crore loan fraud case. He has been asked to appear at the ED headquarters in New Delhi on August 5.

The ED is probing the case under the Prevention of Money Laundering Act (PMLA). Last week, the agency conducted raids at over 35 locations across Mumbai linked to Ambani’s Reliance Group, covering around 50 companies and 25 individuals.

The investigation also extends to a fake bank guarantee scam, where ED claims a firm linked to Anil Ambani secured contracts using forged guarantees. In this connection, raids are underway at three locations in Bhubaneswar tied to Odisha-based M/s Biswal Tradelink Pvt. Ltd. and its directors, as well as one location in Kolkata.

According to ED, Biswal Tradelink and its associates issued fake bank guarantees for an 8% commission, and Ambani’s firm allegedly generated fake bills for these commissions. Multiple undisclosed bank accounts have also been unearthed, revealing suspicious transactions worth crores.The probe continues as ED intensifies its crackdown.