ED Grills Anil Ambani’s Son for Second Consecutive Day in Money Laundering Probe
Agency records statements under PMLA in money laundering case linked to Reliance Group firms and alleged ₹3,300 crore bank loss
New Delhi, Dec 20 : The Enforcement Directorate (ED) on Saturday questioned Jai Anmol Ambani, son of industrialist Anil Ambani, for the second consecutive day in connection with a money laundering investigation linked to an alleged Yes Bank loan fraud, officials said.
The 34 year old’s statements are being recorded under the Prevention of Money Laundering Act (PMLA). He was questioned for the first time on Friday, with the interrogation continuing on Saturday, officials added.
The probe relates to loans extended by Yes Bank to companies of the Reliance Anil Dhirubhai Ambani Group (RADAG). According to officials, the bank’s exposure to the group stood at around ₹6,000 crore as of March 31, 2017, which nearly doubled to about ₹13,000 crore within a year.
The companies under scrutiny include Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL). The ED has alleged that a substantial portion of these loans turned into non-performing investments, resulting in an estimated loss of ₹3,300 crore to the bank.
The Reliance Anil Dhirubhai Ambani Group did not respond to queries regarding the development.
Anil Ambani has earlier been questioned by the ED in connection with the same alleged bank loan fraud involving group companies.
