Anil Ambani is going to appear before the Enforcement Directorate (ED) at 11 am today. The inquiry is being made in the Rs 17,000 crore bank loan fraud case, with serious allegations on many of their companies such as fake bank guarantee, fund transfer through shell companies and incorrect approval of loan. Earlier, the ED had raided more than 35 bases, 50 companies and more than 25 people in this case for 3 days. During this time a large number of documents and digital evidence were recovered.
3,000 crore loan from Yes Bank, already sent money
ED investigation has revealed that between 2017 and 2019, the companies of Anil Ambani Group were given loans worth about Rs 3,000 crore from Yes Bank. It is alleged that before the loan was approved, the money was sent directly to the promoters of the bank, that is, the land of the scam was already prepared. The documents of the companies that received the loan were prepared later and in many cases the loan was approved and released on the day of application. In some cases, the loan amount was transferred before acceptance.
Money transfer to fake companies, use of fake guarantee
The ED also found that the loan amount was transferred to other companies and fake companies of the group. The addresses, directors and documents of many companies did not match. Not only this, fake bank guarantee was also used. Even Odisha -based company Biswal Tradalink Private Limited had given a fake guarantee of more than Rs 68 crore to three companies of Anil Ambani, whose director Partha Sarathi Biswal has been arrested by the ED.
Reliance Communications accused of cheating more than Rs 14,000 crore
The second major case against Anil Ambani is of Reliance Communications, in which he is accused of loan fraud of over Rs 14,000 crore. State Bank of India has put this company in the category of fraud and preparations are underway to register a case in the CBI.
Lookout circular issued, also investigating foreign assets
The ED has also issued a lookout circular against Anil Ambani so that he cannot leave the country. According to sources, investigation of bank accounts and assets located abroad of their companies has also started. Also, summons has been sent to 6 top officials for questioning and issuing notice to 35 banks asking why the loan was not given on time when the loan was converted into NPA.
