Bank of India Reports Ambani and Reliance Communications as Fraud
Bank of India has classified Reliance Communications’ loan account as fraudulent, following similar allegations by the State Bank of India (SBI) against Anil Ambani, based on fund diversion claims in 2016. The Bank of India had sanctioned a ₹700 crore loan in August 2016 for capital and operational expenses, but it was revealed that half…
ABHYUDAYA MITTAL
ED Summons Anil Ambani to Probe Money Laundering Case
ED summoned Anil Ambani to question him about the ongoing probe of the alleged 17,000 crore bank fraud on August 5 at its Delhi headquarters. On July 24, ED conducted multiple searches linked to industrialist Anil Ambani, involving Reliance Anil Dhirubhai Ambani companies in Mumbai at 35 locations, and concluded their probe on July 27….
Sumit
ED Investigates Reliance Anil Ambani Group a in ₹12,500 Cr Fraud
The Enforcement Directorate has launched a wide-ranging money laundering investigation into the Reliance Anil Ambani Group and its associated entities, over alleged large-scale loan scam. The government told Rajya Sabha the Enforcement Directorate probe follows two CBI FIRs from Sept 2022 amid rising loan frauds. On July 22, the ED filed an ECIR to probe…
Anil Ambani To Invest In Solar & Hydropower Projects
The Indian business tycoon and the managing director of Reliance Group, Anil Ambani, has taken a bold move. He has announced a significant investment in Bhutan to plant 1270 megawatts of solar and hydroelectric power projects, which could entail investments of up to $1 billion. Reliance Enterprises has partnered with Bhutan’s Druk Holding and Investments…
Shipra Prajapati
Jai Anmol Ambani To Pay Fine To SEBI For Irregularities
The Securities and Exchange Board of India (SEBI) has fined Anil Ambani’s son, Jai Anmol Ambani, Rs. 1 crore for alleged irregularities in Reliance Home Finance. In the Reliance Home Finance matter, he failed to exercise due diligence while approving general-purpose corporate loans. Gopal Krishnan, the chief risk officer of Reliance Housing Finance, was also…
Abdullah Ansari