There is a series of tsunamis that will soon hit Mumbai, and the Tsunamis will come from the investigating agencies in Delhi. Sources say that the CBI and ED are both racing with each other to nail the biggies who took advantage of the practices and banking methods of Yes Bank ex-boss Rana Kapoor.
Anil Ambani is the first to come under direct scrutiny and interestingly he is left to fend for himself with nobody in his family or business circles willing to back him this time.
Anil Ambani, who in the past has been saved from financial and professional ruin by his family, finds himself alone amidst charges of questionable deals with Yes Bank ex-boss Rana Kapoor. Anil Ambani's companies are among the biggest borrowers of Yes Bank, and the estimates of the present borrowings are well over 10,000 crore rupees with some informal investments pegging it over 12,000 crore rupees.
Despite 2 summons, Anil Ambani is trying his best to avoid appearing before the much-feared Enforcement Directorate. This, agency sources say, "is because Anil Ambani knows that we know much more about his dealings with Rana Kapoor and it will be tough for him and even his best lawyers to explain some of the information that we have with us."
But Anil Ambani won't find himself alone in the ED headquarters. All of Mumbai's top financial circles want to know how much Rana Kapoor has spilled in the course of his interrogation. Among them, is a shady real-estate company and another company which has big investments in TV and digital media. Agency sources said, "Nobody will be spared this time. And when you look at the final list of those who will be called for questioning, Mumbai's corporate and media circles will have to do some soul-searching."
Meanwhile, information coming into Republic World that 5 or 6 big names are likely to be summoned this week. Some sources say, summons have been served on some big proprietors but the information on their specific names is not the public domain.
Enforcement Directorate on Monday summoned Reliance Group Chairman Anil Ambani in connection with its money laundering probe against Yes Bank promoter Rana Kapoor and others. Replying to this, Anil Ambani has filed an adjournment application and has sought more time to appear before the ED, officials said.
The officials said Ambani has been asked to depose at the Enforcement Directorate office in Mumbai on Monday as his group companies are among the big entities whose loans allegedly went bad after borrowing from the crisis-hit bank. It is understood that Ambani has sought exemption on health grounds from the agency and he may be issued a new date.