A lookout circular has also been issued against Anil Ambani (File)
In fresh trouble for Reliance Group Chairman Anil Ambani, the Enforcement Directorate (ED) has written to multiple banks seeking details on the loans sanctioned to his companies, people familiar with the matter told NDTV Profit on Monday.
The financial crime-fighting agency has written to 12-13 public-sector and private banks seeking details on due diligence followed on the loans sanctioned to Reliance Housing Finance, Reliance Communications and Reliance Commercial Finance. Details have been sought from the State Bank of India, Axis Bank, ICICI Bank, HDFC Bank, UCO and Punjab and Sind Bank, sources said.
The agency is also likely to summon some bank officials for questioning in the investigation related to loans issued to the Anil Ambani-led group that later became non-performing assets.
It has sought details on the process followed for loan clearances, the timeline of default and recovery action that followed on such accounts, sources said.
The agency last week made its first arrest in connection with the Rs 3,000-crore loan fraud case against companies of Anil Ambani's Reliance Group.
Partha Sarathi Biswal, the managing director of Biswal Tradelink Pvt Ltd, was arrested on Friday under the Prevention of Money Laundering Act (PMLA), 2002, for submitting fake guarantees worth Rs 68.2 crore, sources said. These guarantees, they said, were arranged on behalf of Reliance Power.
The ED 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.
The agency has found that the promoters of the bank had also received payments just before the loans were sanctioned, indicating a quid pro quo arrangement.
The agency raided over 50 firms connected to the case last month.
A lookout circular has also been issued against Mr Ambani.
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