The Enforcement Directorate (ED) has issued a look out circular against Reliance Group Chairman Anil Ambani in connection with an alleged ₹3,000-crore loan fraud case, according to media reports. Ambani has been summoned to appear before the agency on Tuesday.
A look out circular restricts individuals from leaving the country to avoid legal proceedings. This action comes after the ED conducted search operations on July 24 at several premises linked to Ambani’s companies.
The case pertains to loans extended by Yes Bank Ltd. to various Reliance Group firms between 2017 and 2019. The ED suspects that a part of the loan amount was diverted illegally.
Investigators are also examining a possible quid pro quo, alleging that Yes Bank promoters may have received financial benefits just before sanctioning the loans.
In response, Reliance Power and Reliance Infrastructure issued statements to the stock exchanges on July 26, claiming that the ED’s actions have “absolutely no impact” on their business operations, financials, or stakeholder interests.
The investigation gained momentum after the State Bank of India in June 2025 declared the accounts of Reliance Communications and Anil Ambani as fraudulent, notifying the Reserve Bank of India and filing a complaint with the CBI.
As part of the wider probe into suspected misuse of public funds through shell companies, officials have seized documents and digital evidence from group offices in Mumbai and Delhi.
Earlier, the Securities and Exchange Board of India (SEBI) had barred Anil Ambani and several top executives from the securities markets for five years, also imposing a monetary penalty over alleged fund diversion from Reliance Home Finance.
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