New Delhi, Aug 5 "Were the loans diverted to shell companies?", "Did funds reach political parties?", "Did you bribe any officials?" These were among the questions the Enforcement Directorate (ED) was expected to ask Reliance Group Chairman Anil Ambani as he appeared for questioning in the national capital on Tuesday in a Rs 17,000-crore bank loan fraud and money laundering case.
According to reports, Anil Ambani is not allowed to have a lawyer present during the interrogation, which is being recorded on camera.
Earlier in the day, the Reliance Group (RAAGA companies) Chairman and Managing Director left his residence and arrived at the ED headquarters.
Investigators are focusing on whether loans taken by his group companies over the past decade were used for their intended purposes or deliberately diverted.
The case involves multiple Anil Ambani’s Reliance Group firms, including Reliance Infrastructure and Reliance Communications.
One part of the probe concerns the alleged diversion of around Rs 3,000 crore in loans given by Yes Bank between 2017 and 2019.
Another involves a much larger fraud of over Rs 14,000 crore linked to Reliance Communications.
Last week, the Enforcement Directorate (ED) completed raids at locations linked to Anil Ambani’s Reliance Group.
Investigators seized a large number of documents, hard drives, and other digital records from several sites in Mumbai and Delhi.
The raids began as part of a money laundering investigation into the Yes Bank loan fraud case.
The ED, along with the Central Bureau of Investigation (CBI), is looking into allegations of financial irregularities, including fund diversion, loan fraud, and money laundering.
According to officials, the ED is focusing on whether bank funds were routed through shell companies and misused by Anil Ambani's Reliance Group firms.
At the same time, the CBI has reportedly started its own investigation into other companies under Anil Ambani’s group.
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