ED Summons Anil Ambani in Money Laundering Probe Against Rana Kapoor

Anil Ambani RCom

Anil Ambani was summoned by the ED in the Yes Bank probe but he filed a compliance report saying he is unwell and requested an exemption from appearance.

New Delhi| Reliance Group chief Anil Ambani has been summoned by the ED in connection with an alleged money laundering case involving the crisis-hit Yes Bank, officials have said.

Anil was asked to appear before the Enforcement Directorate office in Mumbai on Monday as his group companies are among the big entities whose loans went bad after borrowing from the crisis-hit bank.

A new date will be announced by the ED today as Ambani failed to appear today.

Ambani is likely to be questioned on the loans granted by Yes Bank. Reliance Anil Dhirubhai Ambani Group (ADAG) group is one of the biggest borrowers of Yes Bank with exposure of over 12,000 crores, all of which has become a non-performing asset.

An ED official said that the agency was looking into all the big borrowers of the bank and the stressed loans sanctioned during the tenure of Rana Kapoor, as mentioned in a report in Business Standard. Information being sought from Ambani include loan details, terms and conditions and side agreements.

Finance Minister Nirmala Sitharaman had said in a recent press conference that Anil Ambani Group, Essel, ILFS, DHFL and Vodafone were among the stressed corporates that borrowed money from Yes Bank.

Also Read: Yes Bank, No Bank

Ambani’s statement will be recorded under the Prevention of Money Laundering Act (PMLA) upon deposition, they said.

Rana Kapoor is at present in ED custody after he was arrested by the central probe agency early this month. The ED has accused Rana, his family members and others of laundering “proceeds of crime” worth Rs 4,300 crore by receiving alleged kickbacks in lieu of extending big loans through their bank that later turned NPA.

Yes Bank customers have been facing a tough time in accessing internet banking, using payment via UPI and withdrawing from ATMs after the RBI’s sudden announcement to curb withdrawals led to a scramble to take out money.

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