In a major development in the ongoing investigation into alleged financial irregularities linked to the Anil Dhirubhai Ambani Group (ADAG), the Enforcement Directorate (ED) has issued fresh summons to industrialist Anil Ambani and his wife, former actress and philanthropist Tina Ambani. The couple has been asked to appear before the federal probe agency on February 17, according to reports.
The summons come as part of a broader probe into an alleged ₹40,000 crore banking and corporate fraud case involving ADAG and its associated entities. The investigation has gained momentum following directions from the Supreme Court, which has called for an independent and time-bound probe.
Credits: Daily Pioneer
Tina Ambani Under Scanner Over Manhattan Property
Tina Ambani has been summoned in connection with a suspected money trail related to the purchase of a luxury condominium in Manhattan, New York. The ED had earlier asked her to appear for questioning earlier this week, but she did not attend the scheduled appearance.
Investigators are reportedly examining whether funds linked to ADAG or associated entities were diverted or routed through complex financial structures for the overseas property purchase. The agency is attempting to trace the source of funds used in acquiring the high-value real estate asset and determine whether it is connected to alleged financial irregularities under investigation.
As of now, the Reliance Group has not issued an official response regarding the summons issued to Tina Ambani or the latest developments in the case.
Supreme Court Orders SIT for Independent Investigation
The Enforcement Directorate recently constituted a Special Investigation Team (SIT) to intensify the probe, following directives from the Supreme Court. The apex court emphasised the need for a “fair, independent, prompt and dispassionate” investigation into the allegations.
The SIT is being led by an additional director-level officer from the ED’s Headquarters Investigation Unit. The team consists of approximately half a dozen investigators tasked with examining financial records, transactions, and alleged fund diversions connected to ADAG companies and executives.
The Supreme Court’s directive came after observing that investigative agencies had taken considerable time to initiate substantial progress in the case, prompting the need for a dedicated team to ensure swift action.
CBI Asked to Probe Alleged Nexus and Conspiracy
Apart from the ED’s probe, the Supreme Court has also directed the Central Bureau of Investigation (CBI) to investigate the possibility of nexus, collusion, and conspiracy in the alleged fraud. The CBI has been asked to pursue its investigation thoroughly and take the case to its logical conclusion.
The parallel investigations by the ED and the CBI highlight the seriousness of the allegations and signal an intensified scrutiny of financial dealings linked to the group.
₹12,000 Crore Worth Assets Already Attached
The ED has been investigating Anil Ambani and several Reliance Group companies since last year. So far, the agency has registered three Enforcement Case Information Reports (ECIRs), which are equivalent to police FIRs under the Prevention of Money Laundering Act (PMLA).
During the course of the investigation, the ED has already attached assets worth approximately ₹12,000 crore, believed to be linked to alleged proceeds of crime. Sources indicate that the newly formed SIT may file additional ECIRs to further probe suspected illegal transactions and financial misconduct by ADAG companies and their executives.
Multiple Group Firms Named in Fund Diversion Probe
Several ADAG companies have come under the scanner in connection with the alleged diversion of public funds. These include Reliance Communications (RCom), Reliance Home Finance Limited (RHFL), Reliance Commercial Finance Limited (RCFL), Reliance Infrastructure, and Reliance Power.
The ED has previously stated that it had detected instances of “fraudulent diversion” of funds through various corporate mechanisms. The agency has reiterated its commitment to tracking financial crimes and ensuring that proceeds derived from alleged illegal activities are restored to rightful stakeholders.
Credits: The Financial Express
Group Denies Allegations
Despite the ongoing investigations and mounting scrutiny, ADAG companies have consistently denied any wrongdoing in earlier statements. The group has maintained that it has complied with legal and regulatory requirements and has cooperated with authorities when required.
With the SIT now actively investigating and both the ED and CBI probing different aspects of the case, the coming weeks are likely to be crucial. The February 17 appearance of Anil and Tina Ambani before the ED could mark a key turning point in one of India’s most high-profile financial investigations in recent years.
