US EditionIndian tycoon Anil Ambani’s US$410 million building seized in fraud probe
- On February 24, the Central Bureau of Investigation registered a fresh FIR against Reliance Communications Limited and Anil Ambani alleging cheating Bank of Baroda of Rs 2,220 crore and conducted searches at Ambani's residence and RCom offices.
- Allegations that RCom's books were manipulated led to a complaint after a stay was vacated on February 23, concerning loans from Bank of Baroda and the erstwhile Vijaya Bank and Dena Bank, which was declared a non-performing asset in 2017.
- Recovered records indicate documents related to loan transactions show funds were diverted through fictitious related-party transactions and the Pali Hill property was aggregated into the RiseE Trust, the ED said.
- The Enforcement Directorate said it has provisionally attached Ambani's Pali Hill 'Abode' valued at Rs 3,716.83 crore, taking total attachments to over Rs 15,700 crore, and he was questioned for more than nine hours on Thursday.
- The probe covers alleged Rs 40,000 crore bank fraud, with Rs 40,185 crore outstanding borrowings, prompting a special investigation team on Supreme Court of India directions.
18 Articles
18 Articles
Anil Ambani grilled for nine hours by ED in RCOM fraud probe, called again on Friday
The Enforcement Directorate (ED) questioned Anil Ambani for more than nine hours on Thursday during the second round of interrogation linked to an alleged bank fraud and money laundering investigation involving his group company Reliance Communications (RCOM). Officials said he has been summoned again on Friday for questioning in a separate case related to an alleged loan fraud against Yes Bank. The 66-year-old industralist reached the ED office…
CBI Searches Anil Ambani's Residence In Rs 2,223 Crore Fraud Case
The Central Bureau of Investigation (CBI) on Wednesday conducted searches at the residence of industrialist Anil Ambani and the offices of Reliance Communications (RCom) in connection with an alleged bank fraud case involving over Rs 2,220 crore.
Anil Ambani appears before ED in money laundering case - The Tribune
Reliance Group chairman Anil Ambani on Thursday appeared before the Enforcement Directorate here for a second round of questioning in connection with an alleged bank fraud-linked money laundering case.
Major action in Bank of Baroda loan case; Anil Ambani in trouble due to dual action by ED and CBI
New FIR of CBI against Anil Ambani 2,220 crore alleged misappropriation Reliance Communications raided over loan scam allegations FIR against Anil Ambani: CBI has filed a fresh FIR against industrialist Anil Ambani. The case relates to a loan taken from the Bank of Baroda. The investigating agency alleged that RCom and its affiliates caused a loss of approximately Rs 2,220 crore to the bank between 2013 and 2017. According to the CBI, the case…
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