ED interrogates Anil Ambani’s son for the second consecutive day in money laundering investigation.

The Enforcement Directorate interrogated Jai Anmol Ambani, the son of industrialist Anil Ambani, for the second day in a row on Saturday, December 20, as part of a money laundering investigation linked to an alleged bank loan fraud, officials reported.

Anmol Ambani’s statements were recorded for the first time under the Prevention of Money Laundering Act (PMLA) on Friday, December 19, and the session continued into Saturday, December 20, as stated by the officials.

The Reliance

Anil Dhirubhai Ambani Group has not commented on the recent developments. The ED’s investigation is connected to Yes Bank, which, according to officials, had an exposure of approximately ₹6,000 crore to the Reliance Anil Dhirubhai Ambani Group as of March 31, 2017, which surged to ₹13,000 crore within one year.
Also read: CBI books Anil Ambani’s son, Reliance Home Finance in ₹228 crore bank fraud case

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

A significant portion of these investments became non-performing assets (NPAs), resulting in a loss of ₹3,300 crore for the bank from these transactions, according to agency allegations.

Anil Ambani has also been interrogated by the ED in a case concerning alleged bank loan fraud involving Reliance Group companies.