The Enforcement Directorate (ED) has summoned key associates of industrialist Anil Ambani under the Prevention of Money Laundering Act (PMLA) as part of its investigation into a Rs 17,000 crore loan fraud.
The summons follow recent raids and document seizures linked to suspected fund diversion and deliberate loan defaults by several firms under Ambani’s conglomerate.
Notably, Amitabh Jhunjhunwala and Sateesh Seth—two senior executives within the group—have been asked to appear for questioning. The ED suspects active involvement in concealing NPAs and facilitating financial irregularities.
Further deepening the probe, the agency has sent inquiries to 39 banks demanding explanations for their failure to report loan defaults or raise red flags. Officials speculate potential kickbacks may have played a role in the silence of certain banking personnel.
The investigation has also unveiled connections to a fake bank guarantee racket spanning cities like Bhubaneswar and Kolkata, hinting at a broader financial scandal. Anil Ambani is scheduled to appear before the ED on August 5 for further interrogation.
The agency continues to track the money trail with the help of seized digital records, aiming to uncover the full extent of the fraud and identify all involved entities.
