ED will issue fresh summons to Tina Ambani after she skipped questioning in the money-laundering probe linked to alleged ₹40,000 crore case against her husband Anil Ambani.
Earlier, SC directed the ED to form a SIT and ensure a fair, timely, and uninterrupted probe into the alleged large-scale bank fraud involving ADAG companies.
The case stems from unpaid bank loans taken by Reliance Group firms, with the ED attaching assets worth over ₹12,000 crore and estimating proceeds of crime at more than ₹20,000 crore.
Tina Ambani Skips ED Questioning in ₹40,000 Cr PMLA Case, Fresh Summons in Line
This comes after the Supreme Court earlier directed the ED to form a SIT to probe the alleged large-scale bank fraud involving Anil Ambani and Anil Dhirubhai Ambani Group (ADAG) companies
Tina Ambani with husband Anil Ambani
Summary
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The Enforcement Directorate will issue fresh summons to industrialist Anil Ambani’s wife, Tina Ambani, after she skipped questioning in a money-laundering probe linked to her husband.
Tina was summoned by the agency on Monday in connection with alleged cases worth around ₹40,000 crore against Reliance Group entities, Anil Ambani, and others, NDTV reported.
This comes after the Supreme Court earlier directed the ED to form a SIT to probe the alleged large-scale bank fraud involving Anil Ambani and Anil Dhirubhai Ambani Group companies.
Under its order, the apex court asked ED to ensure that the investigation is taken to its "logical conclusion" and conducted without disruption. It had also taken note of submissions alleging delay in the investigations by both the ED and the CBI, and said it expects the agencies to ensure a fair, effective and timely probe.
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The fraud case stems from the allegations that companies in the Reliance Group, especially Reliance Communications, took large loans from banks and later failed to repay them.
As the RCOM telecom business collapsed, banks claimed they were left with massive losses running into thousands of crores. What began as a corporate default later drew the attention of investigative agencies.
Point to note: Anil Ambani earlier served as the director of RCOM.
ED has registered three cases under the Prevention of Money Laundering Act (PMLA) related to Reliance Commercial Finance, Reliance Home Finance, RCOM and Reliance Power, along with three cases under the Foreign Exchange Management Act (FEMA).
The agency has issued 13 provisional attachment orders covering 204 properties valued at around ₹12,012 crore. With regard to RCOM, the ED alleged that loans exceeding ₹40,000 crore were taken from Indian and foreign banks, with proceeds of crime estimated at over ₹20,000 crore. Assets worth ₹8,078 crore have been provisionally attached, and former RCOM director Punit Garg has been arrested in connection with the probe.
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