Overview

• The ED has barred Ambani from departing the country and summoned him for questioning under the Prevention of Money Laundering Act on August 5
• The probe builds on CBI FIRs and regulatory findings from SEBI, NHB, NFRA and Bank of Baroda Investigators allege that about ₹3,000 crore in Yes Bank loans to Ambani group firms between 2017 and 2019 were illegally routed to shell entities
• The inquiry has widened to cover suspected ₹17,000 crore in additional loan fraud and a ₹68.3 crore fake bank guarantee scheme
• Reliance Power and Reliance Infrastructure maintain that the ED actions have had “absolutely no impact” on their operations or financial performance