Reliance Group Chairman to Appear Before Agency on November 14; Focus on Alleged Misuse of Bank Loans and Financial Irregularities
New Delhi – The Enforcement Directorate (ED) has summoned Anil Ambani, Chairman of the Reliance Group, for a second round of questioning in connection with an alleged bank loan fraud and money laundering case involving his group companies.
According to officials familiar with the development, the 66-year-old industrialist has been asked to appear before the federal agency on November 14, 2025, as part of an ongoing probe into financial irregularities related to loans taken from several Indian banks, including the State Bank of India (SBI).
This is the second time Ambani will face questioning in this case. He was previously interrogated by the ED in August 2025, when investigators recorded his statement regarding the same set of transactions.
ED Investigates ₹40,185-Crore Outstanding Bank Dues
The case centers on loans worth approximately ₹40,185 crore reportedly owed by Reliance Communications and its affiliated entities. Investigators are probing whether the borrowed funds were diverted, misused, or laundered through shell companies and foreign accounts.
Sources said the ED is examining financial trails to determine if these corporate loans were repurposed for investments or siphoned off under the guise of restructuring and overseas operations.
Scope of Investigation Expands
Over the past few months, the ED has widened its probe into the Reliance Group’s financial activities. The agency has collected bank transaction records, audit files, and investment documents linked to the group’s domestic and offshore holdings.
A senior official from the agency, requesting anonymity, said:
“This is not merely a case of loan default. The focus is on how the funds were utilized — whether the corporate structure was used as a channel for laundering or diversion of public money.”
Broader Implications for Corporate Governance
Financial analysts say the case could have far-reaching implications for corporate accountability and banking transparency in India.
“Large-scale corporate borrowing and defaults have exposed weaknesses in India’s risk assessment and credit monitoring systems,” said a Mumbai-based finance expert. “The ED’s action reflects a growing emphasis on tracing financial responsibility at the highest levels of business leadership.”
Next Steps
ED officials are expected to question Ambani on how the loans were used, repayment plans, and whether the funds were routed through intermediary entities or offshore accounts.
The case has been registered under the Prevention of Money Laundering Act (PMLA), and more senior executives, auditors, and financial advisors linked to the Reliance Group may be summoned in the coming weeks.
