Anil Ambani's Troubles: ED Investigates Alleged Bank Loan Fraud

Anil Ambani, the Chairman of Reliance Group, is under scrutiny by the Enforcement Directorate (ED) concerning alleged money laundering activities. The investigation centers around purported financial irregularities and loan diversions amounting to over Rs 17,000 crore, linked to his conglomerate's companies.

The Enforcement Directorate's probe follows searches across 35 locations and involves allegations of financial mishandling by multiple entities within the Reliance Group. These allegations include fund diversions through inter-corporate deposits and issues with Yes Bank loan approvals.

The ED's findings suggest a broader nexus involving bank loan diversions and potential fraud, with the agency also investigating links between Yes Bank loans and Reliance companies. Multiple financial authorities are involved in the case, highlighting the significant breadth and implications of the alleged schemes.

(With inputs from agencies.)