The Chairman of the Reliance Group Anil Ambani was effectively forbidden to leave India, and the Directorate for enforcement (ED) issued a search circular against him on Friday 1 August.
This development comes in the middle of the ongoing investigation of the alleged £17,000 cases of loans with Crore loans involving its group companies.
Ed called Ambani to interrogate on August 5th. The summons relate to the ongoing investigation of the alleged £17,000 cases of loan fraud on Crore involving his company.
The agency said last week that his investigation Anil Ambani is associated with the charge of the illegal loan diversion approximately £3,000 crore approved by YES Bank for its companies from 2017 to 2019.
Anil Ambani was asked to depose at the ED headquarters in Delhi, and the agency is expected to record his statement under the Money Writing Act.
According to officials, loans are reportedly diverted to many companies and shells involved in fraud.
This raised questions of possible bribery between banks and debtors. ED is now investigating the alleged connection between YES Bank promoters and Ambani’s Ambani companies.
