ED issues lookout circular against Anil Ambani in loan fraud
Anil Ambani, chairman and managing director of Reliance Group, is now on the Enforcement Directorate's (ED) radar. The agency has issued a lookout circular to stop him from leaving India as they investigate a ₹17,000 crore loan fraud.
Ambani was called in for questioning on August 5, 2024—this move signals the ED is taking the case seriously and wants to make sure he faces the legal process.
Probe extends to Biswal Tradelink Pvt Ltd
The ED's probe goes beyond just Ambani. They're also digging into Biswal Tradelink Pvt Ltd, an Odisha-based firm accused of faking a ₹68 crore bank guarantee for a solar project tied to Reliance Group.
Investigators say they've found signs of document tampering and collusion—emails with altered details have surfaced—and arrests could be next as the investigation deepens.
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