₹17,000 Crore Loan Scam: ED Tightens Noose Around Anil Ambani
Mumbai (The Uttam Hindu): The Enforcement Directorate (ED) has taken a big step in the alleged loan fraud case of Rs 17,000 crores related to Anil Ambani's companies. According to sources, the ED has written a letter to 12-13 banks seeking details of the proper investigation done on the loans given to Anil Ambani group companies.
Both public sector banks and private banks including SBI, Axis Bank, ICICI Bank, HDFC Bank, UCO Bank and Punjab & Sind Bank have been contacted. The ED has sought details of the process adopted on loan defaults, timeline of defaults and recovery action. The official says that if not satisfied with the answers, bankers can be summoned and questioned. Most of the loans given to Anil Ambani group companies turned into NPAs. The total loan fraud is Rs 17,000 crore. Reliance Housing Finance and Reliance Commercial Finance together owe Rs 12,534 crore. While the remaining Rs 4,000 crore is owed by Reliance Communications.
The Enforcement Directorate (ED) has summoned Reliance Group Chairman Anil Ambani for questioning on August 5 in connection with a money laundering case related to an alleged bank loan fraud of crores of rupees registered against his group companies. Sources said the federal probe agency has also issued a lookout circular (LOC) against Anil Ambani to prevent him from travelling abroad. They said Ambani (66) has been called to the ED headquarters in Delhi as the case was registered in Delhi. According to information, the agency will record Ambani's statement under the Prevention of Money Laundering Act when he appears. Some officials of his group companies have also been asked to appear in the next few days.