The Reliance Group on Friday issued a clarification over the alleged diversion of Rs 10,000 crore to an undisclosed party, a matter that spurred the Enforcement Directorate to summon Anil Ambani on August 5.
Inviting the media's attention, Reliance said, "The Company wishes to clarify regarding today’s media article pertaining to over 10 year old matter as regards alleged diversion of Rs 10,000 crore to an undisclosed related party, when the exposure as per the disclosures in the Company’s financial statements is only~Rs. 6,500 crore."
The statement further added that "Mr Anil D. Ambani is not on the Board of Reliance Infrastructure since more than 3 years i.e March 2022."
The 66-year-old Ambani has been asked to depose at the ED headquarters in Delhi as the case has been registered here, the sources told PTI.
The agency will record his statement under the Prevention of Money Laundering Act (PMLA) once he deposes, they told news agency PTI.
Some executives of his group companies have also been summoned over the next few days.
The summons come after the federal agency conducted searches at 35 premises of 50 companies and 25 people, including executives of his business group, last week. The searches, launched on July 24, went on for three days.
"Illegal loan diversion"
The ED is also looking at allegations of "illegal" loan diversion of around Rs 3,000 crore, given by the Yes Bank to the group companies of Ambani between 2017-2019.
The ED, the sources said, has found that just before the loan was granted, Yes Bank promoters "received" money in their concerns.
The agency is investigating this nexus of "bribe" and the loan.
The sources said the ED is also probing allegations of "gross violations" in Yes Bank loan approvals to these companies, including charges such as back-dated credit approval memorandums and investments proposed without any due diligence/credit analysis in violation of the bank's credit policy.
