New Delhi, Dec 19: The Enforcement Directorate (ED) on Saturday questioned Jai Anmol Ambani, the elder son of industrialist Anil Ambani, for the second straight day in connection with a money laundering probe linked to alleged bank loan irregularities involving the Reliance Group and Yes Bank, officials said.
According to sources, statements from the 34-year-old businessman were recorded under the provisions of the Prevention of Money Laundering Act (PMLA). Anmol Ambani first appeared before the agency on Friday, where his initial deposition lasted several hours. He was again summoned on Saturday as investigators sought further clarification on transactions examined during the earlier session.
Officials said the questioning forms part of a broader money laundering investigation revolving around loans extended by Yes Bank to various companies under the Reliance Anil Dhirubhai Ambani Group (R-ADAG). The ED’s probe indicates that Yes Bank had an exposure of around ₹6,000 crore to the Group as of March 31, 2017, which reportedly increased to nearly ₹13,000 crore within a year.
The investigation primarily focuses on Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL) — two subsidiaries of the Reliance Group that allegedly benefitted from the bank’s loans. A large portion of these exposures later turned into non-performing investments (NPIs), causing an estimated loss of ₹3,300 crore to Yes Bank, according to ED officials.
The agency maintains that it is examining the flow of funds, loan utilisation patterns, and associated corporate transactions to determine the scale and nature of the alleged diversion of bank money.
Neither Anil Ambani nor any of his representatives have commented publicly on the ongoing inquiry. The Reliance Anil Dhirubhai Ambani Group has also not issued any statement in response to the ED’s summons to Anmol Ambani.
Notably, Anil Ambani himself has previously been questioned by the ED in a related investigation into bank loan fraud allegations leveled against certain Reliance Group companies. The latest round of questioning of his son marks a continuation of the financial watchdog’s efforts to piece together transactional links between group entities and the loans extended by Yes Bank during that period.
