ED Issues Look Out Circular for Anil Ambani in ₹17,000 Crore Loan Fraud Case

As per news reports, the Enforcement Directorate (ED) has intensified its probe into a massive financial fraud involving Anil Ambani, chairman of the Anil Dhirubhai Ambani Group (ADAG). A Look Out Circular (LoC) was issued against the industrialist, following a request from the agency, which is currently investigating a ₹17,000-crore loan fraud case. The development follows extensive searches and impending questioning of Ambani by the ED.

ED Launches Action in ₹17,000-Crore Loan Fraud

As per news reports, the Look Out Circular was issued as part of a wider investigation launched by the ED based on FIR No. 0131/2024, filed by the Economic Offences Wing (EOW) of Delhi Police on November 11, 2024. The agency recently carried out a large-scale search operation across 35 locations in Mumbai, targeting companies and individuals associated with Anil Ambani’s Reliance Group.

These operations covered 50 companies and 25 individuals and were conducted under the provisions of the Prevention of Money Laundering Act (PMLA). Earlier on Friday, ET reported that Anil Ambani has been summoned for questioning by the ED on August 5 in relation to the case.

Bogus SBI Guarantee in SECI Deal Tied to ADAG Firms

A significant revelation in the investigation pertains to a fake bank guarantee of ₹68.2 crore submitted to the Solar Energy Corporation of India (SECI). According to the ED, the guarantee was linked to 2 ADAG-affiliated entities: M/s Reliance NU BESS Limited and M/s Maharashtra Energy Generation Limited. The guarantee was allegedly fabricated and backed by forged communications aimed at impersonating the State Bank of India (SBI).

As per news reports, the fraudulent communication reportedly used a spoofed email domain “s-bi.co.in” intended to closely resemble SBI’s official domain, “sbi.co.in.” This fake domain was used in correspondence with SECI to pass off the forged bank guarantee as authentic. The ED has now sought domain registration records from the National Internet Exchange of India (NIXI) to trace the digital origin and activities linked to the spoofed domain.

Read More: Anil Ambani’s Reliance Power, Reliance Infra Deny Financial Impact of ED Raids!

Conclusion

The developments mark a serious escalation in the legal troubles facing Anil Ambani and the ADAG group. With the issuance of the LoC and discovery of falsified bank documents, the ED is now moving quickly to build a strong case under the Prevention of Money Laundering Act. 

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