Ambani Grilled by ED in ₹17,000 Crore Loan Fraud Probe
The Enforcement Directorate (ED) on Tuesday questioned Anil Ambani in connection with a massive money laundering case involving alleged loan fraud exceeding ₹17,000 crore. The questioning spanned several hours.
The investigation centres around alleged irregularities in loan disbursement, with suspicions of significant diversions and potential bribery. Yes Bank is a key entity under scrutiny.
Reliance Infrastructure and other associated entities are also under the ED’s scanner as part of this wide-ranging probe into financial malpractices. The agency is examining alleged violations in loan approval processes.
The questioning of Mr. Ambani marks a significant development in the ongoing investigation. This case underscores the need for stringent oversight of large-scale lending and the importance of robust regulatory frameworks to prevent financial irregularities. The implications for the financial sector and investor confidence are substantial.
