Reliance Group chairman Anil Ambani on Thursday appeared before the Enforcement Directorate (ED) in Delhi for the second time in connection with a money laundering investigation linked to multi-crore bank loan fraud cases allegedly involving him and his group companies.
The questioning came a day after the agency attached his 17-storey residential property, Abode, located in Mumbai's upscale Pali Hill area and valued at ₹3,717 crore, under provisions of the Prevention of Money Laundering Act (PMLA).
Sources said the 66-year-old industrialist arrived at the ED office around 11.30am. He was not permitted to be accompanied by his lawyer during the session, which was recorded on camera. An agency official noted that statements recorded under the PMLA are admissible as evidence in court.
So far, the total value of assets attached in the case linked to the Reliance Anil Ambani Group has gone beyond ₹15,700 crore.
In August last year, the industrialist was questioned for the first time in the same case by the ED.
The agency recently set up a special investigation team (SIT) to probe the bank fraud case following directions from the Supreme Court.
The money laundering case stems from the two CBI FIRs and reports shared by the National Housing Bank, Sebi, the National Financial Reporting Authority and Bank of Baroda with the ED. These reports, sources said, indicate there was a "well-planned and thought-out scheme" to divert or siphon off public money by cheating banks, shareholders, investors and other public institutions.
Investigators allege that Reliance Communications and its affiliate companies secured loans from domestic and overseas lenders between 2010 and 2012, resulting in dues of ₹40,185 crore.
According to the agency, five banks have classified the group's accounts as fraudulent. Earlier, the State Bank of India (SBI) designated RCOM and Ambani as "fraudulent" under RBI guidelines.
Sources said the bank loans were allegedly "diverted" to multiple group companies and "shell" (bogus) companies by the entities involved.
