Anil Ambani appears before ED in money laundering case
Reliance Group chairman Anil Ambani appeared before the Enforcement Directorate (ED) for a second round of questioning in connection with an alleged bank fraud-linked money laundering case. Officials said his statement was recorded under the provisions of the Prevention of Money Laundering Act (PMLA) . He was first questioned by the agency in August 2025 . The probe is linked to allegations of over Rs 40,000 crore bank fraud involving Reliance Communications (RCOM).
In a parallel development, the Central Bureau of Investigation (CBI) registered a fresh case against Ambani, RCOM, and related entities over alleged cheating of Bank of Baroda , causing a claimed wrongful loss of more than Rs 2,220 crore during 2013–17 . Following the registration of the case, the CBI conducted searches at Ambani’s residence and the registered offices of RCOM , recovering documents related to the disputed loan transactions.
According to the complaint, loans amounting to approximately Rs 31,580 crore were collectively raised by RCOM and its related companies from banks and financial institutions. Authorities allege that part of the funds was used for repayment of other loans, payments to related parties, and investments in fixed deposits and mutual funds, which were later liquidated and redirected. The account was declared a Non-Performing Asset (NPA) in 2017, and subsequent forensic scrutiny reportedly confirmed allegations of diversion and misutilisation of funds.
Bank of Baroda filed the complaint after a stay granted by the Bombay High Court on declaring the account fraudulent was vacated on February 23, 2026 . The case involves loans availed from the then Vijaya Bank and Dena Bank, which later merged with Bank of Baroda. Authorities allege manipulation of books of accounts, creation of fictitious transactions, and transfer of high-value receivables and payables to related entities to conceal irregularities.
Earlier, the ED had also attached Ambani’s Mumbai residence, “Abode,” valued at Rs 3,716 crore , under anti-money laundering provisions. The agency has reportedly formed a special investigation team (SIT) following directions from the Supreme Court to probe multiple alleged fraud cases linked to the group.