US EditionUnderstanding Lookout Circulars: What They Mean and Why They're Issued
DELHI, INDIA, AUG 01 – Anil Ambani has been summoned for questioning in a loan fraud investigation involving alleged financial irregularities, authorities said.
- On August 5, the Enforcement Directorate summoned Anil Ambani for questioning at its New Delhi headquarters over alleged loan diversion of Rs 14,000 crore.
- Last month’s ED raids on July 24 involved searches of properties linked to 50 companies and 25 individuals, officials said.
- Investigators found Reliance Mutual Fund invested Rs 2,850 crore in Yes Bank AT-1 bonds, which were later written off and funds diverted, officials said.
- Investigators are examining roles of various entities as Ambani's testimony becomes central, and meanwhile the Central Bureau of Investigation has begun its own inquiry.
- The ED's ongoing probe will examine shell entities and related transactions, and officials say investigations into undisclosed foreign bank accounts and assets are likely to reveal more.
36 Articles
36 Articles
Understanding Lookout Circulars: What they mean and why they're issued
The Enforcement Directorate has summoned Anil Ambani as part of a money laundering investigation, issuing a Lookout Circular to prevent his international travel. Discover the purpose of LOCs, how they function, and their implications for individuals facing legal scrutiny.
ED issues lookout notice against Anil Ambani, asks him to appear on August 5 over Rs 17,000 crore loan fraud
The Enforcement Directorate (ED) has issued a Lookout Circular (LOC) against Anil Ambani, asking him to appear before the federal agency on August 5. Ambani, 66, the younger brother of Reliance Industries Limited (RIL) Chairman Mukesh Ambani, has also been barred from leaving the country. Recently, the ED conducted raids at locations linked to Anil Ambani. Anil Ambani has been summoned for questioning at its headquarters in Delhi to record his s…
Lookout Notice Against Anil Ambani In Rs 3,000-Crore Loan Fraud Case: Sources
In more trouble for Reliance Group Chairman Anil Ambani, the Enforcement Directorate has issued a Look Out Circular against him in connection with the alleged Rs 3,000-crore loan fraud case, sources said on Friday.
ED summons Anil Ambani in loan fraud probe
Mumbai: The Directorate of Enforcement (ED) has summoned Anil Ambani, chairman and managing director of Reliance Group (RAAGA companies), for questioning in connection with its ongoing probe into an alleged Rs 17,000-crore loan fraud case. Anil Ambani has been asked to appear at the ED headquarters in the national Capital on August 5, according to people close to the development. Last week, ED raids on the premises and people linked with Anil Am…
ED investigates Anil Ambani in loan fraud case, summoned on August 5
The Enforcement Directorate (ED) has summoned Anil Ambani for questioning on August 5 in the national capital. This is in connection with an investigation into an alleged loan fraud of Rs 12,500 crore. The development follows multiple searches the ED carried out at 35 locations in Mumbai, targeting business entities linked to the Anil Ambani group under the Prevention of Money Laundering Act (PMLA). The probe agency's action is also based on fin…
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