Anil Ambani

Anil Ambani moves SC against SBI classification of his account as fraud

Industrialist Anil Ambani has moved the Supreme Court challenging an order of the Bombay High Court which upheld the State Bank of India's (SBI) decision classifying his and Reliance Communications' accounts as fraud. The matter is yet to be listed for hearing. The High Court had on October 3 dismissed Ambani's plea challenging the SBI decision and said there was no merit in the plea. The SBI had last year classified the accounts as fraud, alleging misappropriation of funds by entering into transactions that violated the terms of loans extended by it. Ambani moved the HC, arguing that the bank had not followed the principles of natural justice as it did not grant him a hearing. Certain documents, based on which the classification orders were passed, were not provided to him initially and were furnished only after six months, the petition claimed. The bank this year lodged a complaint with the Central Bureau of Investigation (CBI), which searched premises linked to Reliance ...

CBI to prosecute Rana Kapoor in fraud case linked to Anil Ambani's firms

The Central Bureau of Investigation (CBI) has obtained a sanction to proceed against Yes Bank co-founder Rana Kapoor in a case pertaining to alleged fraudulent transactions between the bank and two Anil Dhirubhai Ambani group companies. The probe agency recently filed an application before a court here for submitting additional documents it is relying on, including the sanction for prosecution against Rana Kapoor, then managing director and chief executive officer of Yes Bank, under the Prevention of Corruption (PC) Act. The court is scheduled to hear both the defence and the prosecution on December 12 for taking cognizance of the charge sheet filed by the CBI. As per the probe agency, the alleged fraudulent transactions involving Reliance Commercial Finance Limited (RCFL) and Reliance Home Finance Limited (RHFL), Yes Bank, and the firms controlled by Kapoor's family caused a loss of Rs 2,796 crore to the bank. The charge sheet names Anil Ambani, Rana Kapoor, his wife Bindu Kapoor

Anil Ambani Reliance group stocks slip up to 3% as ED attaches fresh assets

The attachment covers multiple properties linked to Reliance Communications (RCom) and other group entities, including buildings at Dhirubhai Ambani Knowledge City (DAKC) and Millennium Business Park

ED attaches ₹1,452 crore fresh assets linked to Anil Ambani Reliance group

The ED said RCom and its group companies availed loans from multiple domestic and overseas lenders between 2010 and 2012, with outstanding dues now at ₹40,185 crore and several accounts declared fraud

ED attaches fresh assets in case against Anil Ambani's Reliance Group

The Enforcement Directorate (ED) has attached fresh assets worth crores of rupees as part of a money laundering probe related to Reliance Group chairman Anil Ambani and his companies, official sources said. The federal investigative agency had earlier attached properties worth Rs 7,500 crore in this case. The latest provisional attachment order has been issued under the Prevention of Money Laundering Act (PMLA) for the assets located in various parts of the country. It is estimated that assets worth over Rs 1,400 crore have been attached as part of the latest order, the sources said.

SC issues notices to Centre, CBI, ED, and Anil Ambani on PIL alleging fraud

The Supreme Court on Tuesday issued notices to the Centre, CBI, ED, Anil Ambani and others on a PIL seeking a court-monitored probe into alleged massive banking and corporate fraud involving Reliance Communications (RCOM), its group companies and their promoter. A bench comprising Chief Justice B R Gavai and Justice K Vinod Chandran took note of the submissions of lawyer Prashant Bhushan, appearing for PIL petitioner and former Union secretary E A S Sarma, and sought the replies within three weeks. The bench has now posted the PIL for further hearing after three weeks. Bhushan alleged that the probe agencies are not investigating the alleged complicity of banks and their officials in the huge banking fraud. He sought a direction to the CBI and the ED to file respective status reports with regard to the probe against banks and their officials in the case. Issue notice returnable in three weeks. Let them file their replies, the CJI said. The PIL alleged systematic diversion of publi

'No ex parte order': Court denies Anil Ambani's plea to halt media coverage

A Delhi court refused Anil Ambani's request to stop media reports on alleged ₹41,000-crore fraud, saying it will hear all media organisations first before deciding on any interim order

Anil Ambani skips ED summons in Fema case, says ready to depose virtually

Reliance Group Chairman Anil Ambani refused to appear before the Enforcement Directorate in a Foreign Exchange Management Act (FEMA) case for the second time on Monday. The businessman said he was ready to depose before the federal probe agency via "virtual appearance/recorded video", a statement he made when he skipped the summons the first time on November 14. The ED had rejected Ambani's offer and issued him a fresh summons for Monday. It was not clear if the agency would issue a third summons now. Proceedings under the FEMA are civil in nature, as against the criminal processes under the anti-money laundering law. In a statement, a spokesperson of the 66-year-old businessman said, "Mr Anil D. Ambani has offered to make himself available for the recording of his statement, at any date and time suitable to ED, via virtual appearance/recorded video." According to sources, the agency had asked Ambani to appear before it in person on Friday and record his statement under the FEMA.

Anil Ambani offers to appear via 'virtual means' before ED in Fema case

Reliance Group chairman Anil Ambani has offered to appear before the Enforcement Directorate through "virtual means" following summons issued to him under the FEMA for Friday. A statement issued by a spokesperson of the 66-year-old businessman said he has written to the federal probe agency assuring "fully cooperation" in the probe being conducted under the Foreign Exchange Management Act (FEMA). The agency, according to sources, had asked Ambani to appear in person on Friday and get recorded his statement under the FEMA. The investigation pertains to the Jaipur-Reengus Highway Project where the ED suspects that funds worth about Rs 100 crore were sent abroad via the hawala route. The ED has recorded the statement of various persons, including some alleged hawala dealers, following which they decided to summon Ambani, the sources said. Hawala denotes illegal movement of funds, largely in cash. The businessman has once been questioned by the ED in a money laundering case linked to

ED makes third arrest in Reliance Power fake bank guarantee PMLA probe

The Enforcement Directorate on Friday said it has made a fresh and the third arrest in connection with a money laundering probe against businessman Anil Ambani's group company Reliance Power linked to issuance of an alleged fake bank guarantee of Rs 68 crore. Amar Nath Dutta, a resident of Kolkata, was taken into custody on Thursday under the provisions of the Prevention of Money Laundering Act (PMLA). A special court sent him to ED custody till November 10, it said in a statement. The federal probe agency has arrested former Reliance Power CFO Ashok Kumar Pal and a private person Partha Sarathi Biswal, MD of an Odisha-based company named Biswal Tradelink, sometime back as part of this investigation. "He (Dutta) claims to provide consultancy services in Trade Financing. Dutta played an active role along with Ashok Pal and Partha Sarathi Biswal, for providing fake bank guarantees," the agency said. The case pertains to a bank guarantee of Rs 68.2 crore submitted to the Solar Energy

ED summons Anil Ambani for questioning on Nov 14 in money laundering case

The Enforcement Directorate has summoned Reliance Group chairman Anil Ambani again for questioning on November 14, days after attaching assets worth over ₹7,500 crore in a money laundering probe

Reliance Group says no impact on business operations due to attachment

Anil Ambani's Reliance Group on Tuesday said there is no impact on business operations of the group's listed companies because of the ED's attachment of Rs 7,500 crore worth of properties, which is linked to a money-laundering probe. The majority of the assets attached by the Enforcement Directorate belong to Reliance Communications, which is under the control of the Resolution Professional (RP) and the committee of creditors (CoC), led by State Bank of India, the group's listed firms said in stock exchange filings. The federal probe agency issued four separate provisional orders under the Prevention of Money Laundering Act (PMLA) on October 31 for attaching 42 properties, including the 66-year-old Ambani's family home in Pali Hill, Mumbai, apart from other residential and commercial properties of his group companies. The attachment relates to cases involving Reliance Communications and its affiliates over the alleged diversion of loans taken from YES Bank between 2017 and ...

Reliance Infra, Reliance Power tank up to 54% from June highs; here's why

The ED has attached assets worth more than ₹7,500 crore linked to Reliance Group Chairman Anil Ambani as part of a money laundering probe against his group companies.

ED seizes ₹7,500 cr assets linked to Anil Ambani in money laundering probe

The ED has attached assets worth ₹3,084 crore linked to Anil Ambani, including his Mumbai home, a Delhi plot and other residential and commercial properties across major cities under the PMLA

Yes Bank lost over ₹2,700 crore in deals with Anil Ambani firms: CBI

Yes Bank suffered a loss of over Rs 2,700 crore due to the "unilateral decision" of its co-founder Rana Kapoor to invest in the Anil Ambani-led financial companies, said the CBI's charge sheet in a case pertaining to alleged fraudulent transactions between the bank and the industrialist's group entities. The Central Bureau of Investigation (CBI) last month filed a charge sheet against 13 people and entities, including Anil Ambani, Rana Kapoor and his family members, alleging criminal conspiracy, cheating and corruption related to loans and investments. The Federal probe agency's document said that further investigation was on regarding the role of Anil Ambani's son Anmol Ambani, the then executive director of Reliance Capital, in the case. The case is based on two separate complaints lodged by the Chief Vigilance Officer of Yes Bank. As per the charge sheet, the bank -- when Rana Kapoor was its managing director and chief executive officer -- made investments of Rs 5,010 crore in

CBI finds fund diversion via shell firms in Yes Bank-Anil Ambani Group case

The Enforcement Directorate is also investigating suspected irregularities in the same set of transactions that occurred during Rana Kapoor's tenure at Yes Bank

Bombay HC upholds SBI order on Anil Ambani, Reliance Comm fraud accounts

The Bombay High Court while upholding an order of the State Bank of India (SBI) classifying the accounts of industrialist Anil Ambani and Reliance Communications as fraud has said it was a reasoned order, and did not have any legal flaw. A bench of Justices Revati Mohite Dere and Neela Gokhale on October 3 dismissed a petition filed by Ambani, challenging the SBI order. The judgment, a copy of which was made available on Tuesday, said there was no merit in Ambani's plea as there was no "infirmity" in the SBI order of June 13, 2025. The court did not entertain the industrialist's contention that the order should be held as null and void because he was not given a personal hearing, and relevant documents were not furnished to him. The right available under the Reserve Bank of India's (RBI) Master Directions, under which the SBI passed its order, is that of making a representation and not of personal hearing, the high court noted. Ambani had submitted his response to the show-cause .

Bombay HC rejects Anil Ambani plea against SBI fraud classification

The Bombay High Court on Friday dismissed a petition filed by industrialist Anil Ambani challenging the State Bank of India's (SBI) decision classifying his and Reliance Communications' accounts as fraud. A bench of Justices Revati Mohite Dere and Neela Gokhale said there was no merit in the plea. A detailed copy of the judgement was not available immediately. The SBI had last year classified the accounts as fraud, alleging misappropriation of funds by entering into transactions that violated the terms of loans extended by it. Ambani moved the HC, arguing that the bank had not followed the principles of natural justice as it did not grant him a hearing. Certain documents, based on which the classification orders were passed, were not provided to him initially, and furnished only after six months, the petition claimed. The bank this year lodged a complaint with the Central Bureau of Investigation (CBI), which searched premises linked to Reliance Communications and Ambani's ...

ED conducts searches at Reliance Infrastructure premises in Fema probe

The Enforcement Directorate on Tuesday conducted searches in Maharashtra and Madhya Pradesh as part of a FEMA investigation being conducted against Anil Ambani Group company Reliance Infrastructure, official sources said. At least six premises of some linked entities in Mumbai and Mhow in Indore were searched, they said. The surprise action was part of a Foreign Exchange Management Act (FEMA) investigation being conducted against Reliance Infrastructure on charges of making some illegal remittances abroad, they said. The company said in a statement that the ED action was in relation to a matter "dating back 15 years". "In 2010, the company had awarded an EPC contract for the construction of the JR Toll Road (Jaipur ?Ringus Highway) to Prakash Asphaltings & Toll Highways." "This was a domestic contract with no foreign exchange involved," it said in a statement. The work was completed and the company has no continuing connection or relationship with the said contractor. The toll ..

Reliance Infra & Power distance themselves from CBI case on Anil Ambani

The CBI has filed chargesheets alleging fraudulent transactions between Anil Ambani's group companies (RCFL and RHFL), Yes Bank, and companies linked to the family of former Yes Bank chief Rana Kapoor