In more trouble for Reliance Group Chairman Anil Ambani, the Enforcement Directorate has filed a fresh money laundering case against him, Reliance Communications and others in connection with an alleged Rs 2,929 crore bank fraud.
Officials said the ED's action is based on a First Information Report filed by the CBI last month. The CBI had accused Mr Ambani and Reliance Communications (RCom) of causing the loss to the State Bank of India (SBI) and had also searched premises linked to the Reliance Group chairman.
The searches were conducted at six locations linked to RCom and the businessman in Mumbai and were aimed at gathering evidence to establish how bank funds were misused and whether loans were diverted.
The SBI had classified RCom and Mr Ambani as "fraud" on June 13 and sent a report to the Reserve Bank of India (RBI) on June 24.
In its letter to RCom, the SBI had said, "We have taken cognisance of the responses to our Show Cause Notice and after due examination of the same, it is concluded that sufficient reasons have not been provided by the respondent, to explain the non-adherence to the agreed terms and conditions of the loan documents or the irregularities observed in the conduct of the account of RCL (Reliance Capital Limited) to the satisfaction of the bank."
The ED had also questioned Mr Ambani in a money laundering case linked to alleged multiple bank loan fraud cases worth crores against his group companies.
The agency has been investigating the alleged diversion of around Rs 3,000 crore in loans given to Reliance Group companies by Yes Bank between 2017 and 2019. It had found that the promoters of the bank had also received payments just before the loans were sanctioned, indicating a quid pro quo arrangement.
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