Yes Bank crisis: Anil Ambani summoned by ED in connection with money laundering probe

Anil Ambani was asked to depose at the Enforcement Directorate office in Mumbai on Monday as his group companies are among the big entities whose loans went bad after borrowing from the crisis-hit bank.

Press Trust of India March 16, 2020 10:35:54 IST
Yes Bank crisis: Anil Ambani summoned by ED in connection with money laundering probe

New Delhi: Reliance Group Chairman Anil Ambani has been summoned by the ED in connection with its money laundering probe against Yes Bank promoter Rana Kapoor and others, officials said on Monday.

They said Ambani was asked to depose at the Enforcement Directorate office in Mumbai on Monday as his group companies are among the big entities whose loans went bad after borrowing from the crisis-hit bank.

The officials said Ambani, 60, has sought exemption from appearance on some personal grounds and he may be issued a new date.

Ambani's group companies are stated to have taken loans of about Rs 12,800 crore from the bank that turned NPAs.

Yes Bank crisis Anil Ambani summoned by ED in connection with money laundering probe

File photo of Anil Ambani, Chairman, Reliance Communications. Reuters file photo

Finance Minister Nirmala Sitharaman had said in a March 6 press conference that the Anil Ambani Group, Essel, ILFS, DHFL, and Vodafone were among the stressed corporates Yes Bank had exposure to.

Officials said promoters of all the big companies who had taken large loans from the beleaguered bank which later turned bad are being summoned for questioning in the case to take the investigation forward.

Ambani's statement will be recorded under the Prevention of Money Laundering Act (PMLA) upon deposition, they said.

Kapoor, 62, is at present in ED custody after he was arrested by the central probe agency early this month.

The ED has accused Kapoor, his family members and others of laundering "proceeds of crime" worth Rs 4,300 crore by receiving alleged kickbacks in lieu of extending big loans through their bank that later turned NPA.

Updated Date:

also read

Billie Eilish, BTS, Ed Sheeran, Coldplay to perform at Global Citizen Live
Entertainment

Billie Eilish, BTS, Ed Sheeran, Coldplay to perform at Global Citizen Live

Global Citizen Live on Saturday will be a round-the-world event (including Mumbai) to raise awareness on climate change, vaccine equality, and famine.

Mumaith Khan appears before ED in Hyderabad money laundering probe
Entertainment

Mumaith Khan appears before ED in Hyderabad money laundering probe

Mumaith Khan is the eighth person from the Telugu film industry to appear before the Enforcement Directorate, which has summoned over 10 personalities so far in the money laundering probe linked to the 2017 Hyderabad drugs racket case.

Telugu actor P Navdeep appears before ED for money laundering probe
Entertainment

Telugu actor P Navdeep appears before ED for money laundering probe

P Navdeep is the latest among the 10 Tollywood personalities questioned as part of a money laundering probe in connection with a high-end drugs racket that was busted in Hyderabad in 2017.