ED questions Anil Ambani’s son for second straight day in money laundering case

The Enforcement Directorate on Saturday, December 20 questioned Jai Anmol Ambani, son of industrialist Anil Ambani, for the second consecutive day in a money laundering case linked to an alleged bank loan fraud, officials said.

The statements of 34-year-old Anmol Ambai were recorded under the Prevention of Money Laundering Act (PMLA) for the first time on Friday, December 19 and the session is continuing on Saturday, December 20 they said.

The Reliance

Anil Dhirubhai Ambani Group did not respond to the development. The ED probe is related to Yes Bank, which, according to the officials, had an exposure of about ₹6,000 crore in the Reliance Anil Dhirubhai Ambani Group as of March 31, 2017, which doubled to ₹13,000 crore within a year.
Also read: CBI books Anil Ambani’s son, Reliance Home Finance in ₹228 crore bank fraud case

The companies involved included Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL).

A “large” portion of these investments turned into non-performing investments (NPIs) and the bank, subsequently, suffered a loss of ₹3,300 crore from these dealings, the agency alleged.

Anil Ambani, too, has been questioned by the ED in an alleged bank loan fraud case against the Reliance Group companies.