Authorities Issue Lookout Notice for Anil Ambani in Multi-Crore Loan Fraud Case

Anil Ambani Faces ED Lookout Circular in ₹3,000 Crore Loan Fraud Case.

In mounting legal trouble for Reliance Group Chairman Anil Ambani, the Enforcement Directorate (ED) on Friday issued a lookout circular against him in connection with a suspected ₹3,000 crore loan fraud and money laundering case. He is now barred from leaving India without prior court approval.

The case revolves around alleged diversion of loans taken from Yes Bank between 2017 and 2019 by companies linked to Ambani. According to the ED’s preliminary investigation, these firms were part of a deliberate scheme to mislead financial institutions and siphon off public funds.

Sources say money was routed to entities associated with Yes Bank’s promoters just before the loans were disbursed, raising red flags over possible bribery and quid-pro-quo arrangements. The ED is now probing the alleged collusion between Anil Ambani’s companies and the bank’s leadership.

Serious irregularities have also been flagged in Yes Bank’s loan approval process. These include back-dated Credit Approval Memorandums (CAMs), investments cleared without proper due diligence, and violations of internal credit policies.

The lookout notice comes just days after the ED conducted searches at several Mumbai properties linked to Ambani. He has been summoned for questioning on August 5.

Earlier in June, the State Bank of India classified the Reliance Communications loan account as “fraud” and reported Ambani—its former director—to the Reserve Bank of India.