New Delhi: In a major development, the Enforcement Directorate (ED) has issued a lookout notice against Reliance Group Chairman Anil Ambani in connection with an alleged ₹3,000 crore loan fraud and money laundering case, according to media reports.
The move restricts Ambani from leaving the country without court approval. Lookout circulars are typically issued to prevent flight risks in ongoing criminal investigations and are enforced at all immigration checkpoints.
The action follows raids conducted by the ED on July 24 across over 50 locations linked to the case, continuing for three days under the Prevention of Money Laundering Act. The probe alleges that companies associated with Anil Ambani diverted public funds and misled financial institutions, particularly in connection with loans from Yes Bank between 2017 and 2019. The ED also suspects a quid pro quo, with payments allegedly made to Yes Bank promoters prior to loan disbursements.
Reliance Power and Reliance Infrastructure acknowledged the ED’s actions but stated that the raids had no impact on their operations or stakeholders. The companies also clarified that the media reports relate to older transactions involving Reliance Communications and Reliance Home Finance, dating back over a decade.
