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CBI raids Anil Ambani's premises in ₹17,000 crore fraud
On Saturday, the CBI raided premises linked to Reliance Communications and its former promoter Anil Ambani as part of a big investigation into alleged bank fraud.
This follows an FIR and comes soon after the Enforcement Directorate questioned Ambani for nearly 10 hours about suspected money laundering related to multiple bank loan frauds involving over ₹17,000 crore.
Investigators are looking at questionable loans
Investigators are looking at questionable loans from Yes Bank and whether funds were funneled through shell companies.
Ambani had asked for 10 days to share documents, but officials say he hasn't fully complied.
The case highlights how authorities are stepping up efforts to track down misuse of huge bank loans, with both the CBI and ED digging deeper into what happened.