Why Enforcement Directorate Has Summoned Anil Ambani Again

The Enforcement Directorate (ED) has issued fresh summons to industrialist Anil Ambani, directing him to appear for questioning on November 14th at its Headquarters in New Delhi. This comes days after the federal probe agency's decision to provisionally attach over Rs 7,500 crore in assets belonging to Ambani and his group companies, including his residence at Palli Hills.Ambani was last questioned in August in the money laundering linked to a bank fraud involving Yes Bank. He was questioned for over ten hours. The total attachment of properties now stands over Rs 7,500 crore, said ED. On Monday, the ED provisionally attached 132 acres of land parcels at the Dhirubhai Ambani Knowledge Centre (DAKC), valued at Rs 4,462 crore. The ED had previously

attached 42 properties worth over Rs 3,083 crore in bank fraud cases linked to Reliance Communications Ltd. (RCOM), Reliance Commercial Finance Ltd., and Reliance Home Finance Ltd.In a statement issued after the provisional attachment, Reliance Infrastructure assured the investors, stating the action would "have no impact" on its businesses."We wish to inform that certain assets of the Company have been provisionally attached by ED for the alleged violations under PMLA. There is no impact on the business operations, shareholders, employees, or any other stakeholders of Reliance Infrastructure Limited," the company stated, adding that Mr. Anil D. Ambani has not been on its Board for over 3.5 years. The ED's investigation stems from a CBI FIR filed against RCOM, Mr. Ambani, and others. The agency's core claim centers on loans availed by RCOM and its group companies from domestic and foreign lenders between 2010 and 2012 onwards, of which Rsc40,185 crore remains outstanding. Five banks have already declared these loan accounts as fraudulent.The investigation has allegedly uncovered a systematic diversion of loan proceeds:Evergreening: Over Rs 13,600 crore was allegedly diverted for the "evergreening" of loans.Connected Parties: Over Rs 12,600 crore was transferred to connected parties.Investments: Over Rs 1,800 crore was invested in FDs/MFs, which were later liquidated and rerouted to group entities.The ED also alleges that loan funds were used for illegal overseas remittances, and that money taken by one entity was used to repay the debt of another—a violation of loan sanction terms.

Arrest and Separate FEMA Probe

ED has also said it has carried out searches under provisions in FEMA (Foreign Exchange violations) in a matter linked to Reliance Infrastructure.

The probe allegedly unearthed the siphoning of Rs 40 crore from the Jaipur–Reengus highway project.The funds were routed from Surat-based shell companies to Dubai, revealing an international hawala network exceeding Rs 600 crore.ED officials have told Times Now that investigations are ongoing as they are actively "committed to restituting Proceeds of Crime to their rightful claimants."The probe agency recently arrested Ashok Pal, the then Chief Financial Officer (CFO) of Reliance Power, in connection with a fake bank guarantee case. Pal resigned after his arrest. Reliance Power, in its defense, stated that it considered itself a "victim in the case."