ED questions Anil Ambani in Rs 17,000-cr loan fraud probe

Ambani reached the ED workplace at 11 am and the questioning lasted greater than 9 hours, based on folks with information of the matter. Ambani has sought seven days to furnish paperwork pertaining to the queries posed to him by the ED, they stated.

The company will summon the 66-year-old industrialist once more after recording the statements of credit score committee members, based on the folks.

The ED will query Amitabh Jhunjhunwala, a former shut aide of Ambani, on Wednesday. On Thursday, it’s going to query one other shut aide, Sateesh Seth of Reliance Group.

ET was the primary to report on August 1 that the ED had summoned Anil Ambani for questioning in reference to the alleged financial institution mortgage fraud case.

ET was the primary to report on Monday that the ED would summon officers of personal and public sector banks which had given loans to Reliance Group for questioning. The company will search particulars from the financial institution officers on the motion initiated by them, if any, towards Anil Ambani’s corporations which did not repay the loans, ET had reported.”We wish to confirm what motion did banks take towards the businesses which did not repay the loans taken from them (banks). Did they complain to the police, search registration of an FIR (first info report) towards the businesses or not?” a senior official had instructed ET on the situation of anonymity.Almost 20 non-public and public sector banks had given loans to Anil Ambani’s entities over a time frame which finally was non-performing property. Three entities of Reliance Group – Reliance House Finance Restricted (RHFL), Reliance Business Finance Ltd. (RCFL) and Reliance Communications (RCom) – got a complete of about ₹17,000 crore by the banks.

In line with knowledge accessible with the ED, RHFL has an impressive mortgage of greater than ₹5,901 crore, whereas the quantity within the case of RCFL is about ₹8,226 crore and RCom owes almost ₹4,105 crore.

In addition to YES Bank, the opposite banks which had given loans to Reliance Group embody State Bank of India, UCO Bank, Axis Bank, ICICI Bank, HDFC Bank, Bank of India and Punjab and Sind Bank.

A glance out round (LOC) has additionally been issued towards Anil Ambani on the request of the ED. Minutes after issuing summons to Ambani final Thursday, the company despatched a request to situation an LOC towards the industrialist.

The ED final week carried out searches at a number of entities and people linked to Anil Ambani’s Reliance Group over 35 areas in Mumbai, protecting 50 corporations and 25 people, below the Prevention of Cash Laundering Act.