ED’s big action against Anil Ambani on loan fraud case, assets worth more than Rs 3000 crore attached

Anil Ambani: Taking a big step against veteran businessman Anil Ambani and his Reliance Group, ED (Enforcement Directorate) on Friday attached assets worth more than Rs 3,000 crore. These include Ambani’s Pali Hill House in Bandra, Mumbai and other flats, plots and offices of Reliance Communication and Reliance Infrastructure Limited in other cities including Delhi, Noida, Mumbai, Goa, Pune, Hyderabad and Chennai.

The matter is related to alleged loan fraud. There has been no statement from Anil Ambani’s Reliance Group on this yet. According to sources, Ambani’s office in Hotel Ranjit, Reliance Center in Delhi is also one of the attached properties.

Loan of Rs 3000 crore received even before approval

An official, on condition of anonymity, said that assets worth about Rs 3000 crore have been temporarily seized as part of the money laundering investigation. However, Reliance Group has already denied the allegations against it. Let us tell you that this investigation of ED is related to the scam of Rs 17000 crore. This includes loans taken from about 20 government and private banks.

ED also found that between 2017-19, Yes Bank had illegally given loans to Anil Ambani’s companies, which were later diverted elsewhere. Investigation revealed that money was sent to the bank promoters before the loan was approved. The allegation is also that many companies got the loan first and the documents were prepared later. There were some cases in which the loan was not even approved, but the money was already transferred.

These are also included in the loan giving banks

Apart from Yes Bank, the banks giving loans to Ambani’s companies include State Bank of India, Axis Bank, ICICI Bank, HDFC Bank, Bank of India, UCO Bank and Punjab and Sindh Bank. According to ED information, Reliance Commercial Finance owes more than Rs 8,226 crore, Reliance Home Finance owes more than Rs 5,901 crore and Reliance Communications owes about Rs 4,105 crore.

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