Anil Ambani Appears At ED In Money-laundering Probe Against Yes Bank Founder Rana Kapoor

Law & Order

Reliance Group Chairman Anil Ambani has appeared before the Enforcement Directorate on Thursday for interrogation in relation to the loans given to his company

Written By Pritesh Kamath | Mumbai | Updated On:
Yes Bank

Reliance Group Chairman Anil Ambani has appeared before the Enforcement Directorate on Thursday for interrogation in relation to the loans given to his company by Yes Bank. Ambani had 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. However, he had sought exemption on health grounds from the agency. The Reliance Group had taken loans to the tune of Rs 12,800 crores from Yes Bank which later turned NPA (Non Performing Assets). On Thursday, he was taken in to the office via the back gate.

This comes amid Republic TV's investigation into big loans by Yes Bank to various corporates.

READ | BIG: ED Summons Naresh Goyal, Subhash Chandra After Anil Ambani Amid Rana Kapoor Probe

Anil Ambani last year had faced prison charges after a deal between his firm Reliance Communications (RCom) and telecoms giant Ericsson collapsed leaving his firm owing Ericsson about Rs 550 crores, which it failed to pay by a court deadline; however, at that time his elder brother Mukesh Ambani bailed him out by paying off the due amount to Ericsson.

ED summons bigwigs

A day earlier, the ED summoned chairman of Essel group Subhash Chandra (former chairman of Zee TV) and Jet Airways founder Naresh Goyal in connection to the Yes Bank debacle, though the two didn't appear citing various reasons.

READ | Biggest Shake-up For Corporate India Soon, Anil Ambani Is Not The First And Last Big Name

Currently, Enforcement Directorate has been investigating into Yes Bank founder Rana Kapoor - who was under judicial custody. 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. The ED has also been probing into the loans offered by Yes Bank to DHFL which has been booked for siphoning funds close to Rs 13000 crores allegedly through 80 shell companies. The CBI too has booked a case against Kapoor for the same offence.

READ | 'Outstanding Term Loans From Yes Bank To IBHFL And Its Promoters Are Zero': Indiabulls
 

First Published:
By 2030, 40% Indians will not have access to drinking water
SAVE WATER NOW
PEOPLE HAVE PLEDGED SO FAR
DO NOT MISS