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Time of India
16 minutes ago
- Time of India
Explained: Anil Ambani's Rs 17000 crore loan fraud case; ED raids, fake guarantees & money laundering trail
What is the Anil Ambani loan fraud case? Economic Times #WATCH | Anil Ambani reaches Delhi after the Enforcement Directorate summoned him for questioning as part of its ongoing probe into an alleged Rs 17,000-crore loan fraud case. He has been directed to appear at the ED headquarters in Delhi today. — ANI (@ANI) August 5, 2025 Key companies involved: Reliance Home Finance Ltd (RHFL): Allegedly owns Rs 5,901 crore. Allegedly owns Rs 5,901 crore. Reliance Commercial Finance Ltd (RCFL): Alleged debts exceed Rs 8,226 crore. Alleged debts exceed Rs 8,226 crore. Reliance Communications (RCom): Reportedly owes nearly Rs 4,105 crore. Key Bank is involved in the Anil Ambani fraud case NDTV Profit, Fake Guarantees: Key allegations against Anil Ambani Several key allegations have emerged against Anil Ambani in connection with the ongoing loan fraud investigation: Loan diversion and money laundering: The core accusation centres on loans totalling around Rs 17,000 crore that were granted to multiple Reliance Group entities, including Reliance Home Finance Ltd, Reliance Commercial Finance Ltd, and Reliance Communications, which were allegedly misused and funnelled through a maze of shell companies. The core accusation centres on loans totalling around Rs 17,000 crore that were granted to multiple Reliance Group entities, including Reliance Home Finance Ltd, Reliance Commercial Finance Ltd, and Reliance Communications, which were allegedly misused and funnelled through a maze of shell companies. Yes Bank Irregularities: A major focus of the whole case is on the alleged nexus of 'bribe' and loan involving Yes Bank. Nearly Rs 3000 crore in loans disbursed between 2017 and 2019 are suspected of being illegally diverted, as per ET. A major focus of the whole case is on the alleged nexus of 'bribe' and loan involving Yes Bank. Nearly Rs 3000 crore in loans disbursed between 2017 and 2019 are suspected of being illegally diverted, as per ET. Fake Bank Guarantee Scheme: A separate yet connected allegation concerns a bogus bank guarantee valued at Rs 68.2 crore, which was submitted to the Solar Energy Corporation of India (SECI) by companies associated with Reliance Power. A separate yet connected allegation concerns a bogus bank guarantee valued at Rs 68.2 crore, which was submitted to the Solar Energy Corporation of India (SECI) by companies associated with Reliance Power. Reliance Infrastructure and CLE Pvt Ltd: According to allegations based on a SEBI report, Reliance Infrastructure is accused of disguising fund diversion as inter-corporate deposits, channelling the money to other Reliance Group firms via a company called CLE Pvt Ltd. According to allegations based on a SEBI report, Reliance Infrastructure is accused of disguising fund diversion as inter-corporate deposits, channelling the money to other Reliance Group firms via a company called CLE Pvt Ltd. Fund Misreporting and Fraud: Investigators are also examining earlier claims of fund diversion and financial misreporting involving other Anil Ambani-led firms, such as Reliance Communications and Reliance Home Finance. Investigators are also examining earlier claims of fund diversion and financial misreporting involving other Anil Ambani-led firms, such as Reliance Communications and Reliance Home Finance. Ignoring Defaults and Potential Bribes: According to India Today, authorities are probing why 39 banks did not report the loan fraud and are investigating whether bank officials overlooked warning signs intentionally or accepted bribes in exchange for their silence. Anil Ambani loan fraud case ( Image credit : Anil Ambani loan fraud case | Credit: X | @CryptooIndia ) Timeline of Major Events 2017-2019: Yes Bank grants around Rs 3,000 cr in loans to Anil Ambani group companies. The alleged diversion and misuse of these funds begins. Yes Bank grants around Rs 3,000 cr in loans to Anil Ambani group companies. The alleged diversion and misuse of these funds begins. November 2020: SBI has labelled the accounts of Reliance Communication (RCom) and Anil Ambani as fraudulent and has filed a complaint with the CBI. 2022: In 2022, the CBI registered two FIRs against Reliance Group companies over alleged loan fraud. In 2022, the CBI registered two FIRs against Reliance Group companies over alleged loan fraud. November 2024: An FIR lodged by the Economic Offences Wing of the Delhi Police triggered a more extensive Enforcement Directorate investigation into the fake bank guarantee scam. An FIR lodged by the Economic Offences Wing of the Delhi Police triggered a more extensive Enforcement Directorate investigation into the fake bank guarantee scam. July 24, 2025: The Enforcement Directorate carried out extensive raids across more than 35 locations, targeting over 50 companies and questioning nearly 25 individuals in its search for evidence of fund diversion and money laundering. The Enforcement Directorate carried out extensive raids across more than 35 locations, targeting over 50 companies and questioning nearly 25 individuals in its search for evidence of fund diversion and money laundering. August 1, 2025: Arrest of Partha Sarathi Biswal, director of Biswal Tradelink, for arranging fake bank guarantees on behalf of Reliance Power. Arrest of Partha Sarathi Biswal, director of Biswal Tradelink, for arranging fake bank guarantees on behalf of Reliance Power. August 5, 2025: Anil Ambani summoned for direct questioning by ED in Delhi under money laundering laws. A lookout circular was issued so he couldn't leave India. Who else is involved? Sanjay Dangi Sateesh Seth Amitabh Jhunjhunwala Amit Dangi Puneet Garg Chhaya Virani Akash Suri Jitendra Sanghvi Amit Bapna Pinkesh Shah Ravindra Sudhalkar Anurag Sharma Hasit Shukla Kamalkant Gupta Varun Agarwal Amrish Shah Sandeep Khosla Yashpal Pradip Shroff FAQs Q. Why did Anil Ambani lose his wealth? Industrialist Anil Ambani appeared before the Enforcement Directorate (ED) in Delhi on Tuesday in connection with a suspected Rs 17000 crore bank loan fraud case involving several Reliance Group companies. In parallel with this high-profile loan fraud investigation, Indian financial authorities have launched a separate money laundering inquiry centred around an alleged fake bank guarantee scam valued at Rs 68.2 fresh investigation stems from an FIR lodged by Delhi's Economic Offences Wing in November 2024, relating to a fraudulent guarantee submitted to the Solar Energy Corporation of India (SECI). As part of the investigation, the Enforcement Directorate carried out synchronised raids on Thursday evening at four locations linked to a relatively obscure company, Biswal Tradelink Pvt Ltd: three sites in Bhubaneswar and one in what is Anil Ambani's fraud case all about? Let's find out and understand the whole timeline of the Ambani's case involves unpaid loans of nearly Rs 17,000 crore linked to multiple Reliance group companies. Reliance Power is under investigation for financial irregularities, including a fake bank guarantee scheme involving Biswal Tradelink Pvt Ltd (BTPL), whose managing director was arrested about a fake bank guarantee worth Rs 69.2 crore for a Reliance Group to the, the ED, BTPL, received Rs 5.40 crore from Reliance Nu Bess Ltd's parent company, Reliance Power Ltd, after it submitted a fake bank guarantee containing forged endorsements from SBI in response to a Solar Energy Corporation of India Ltd (SECI) ED further noted that BTPL, a relatively small firm incorporated in 2019, operated several undisclosed bank accounts and conducted financial transactions far exceeding its reported turnover. The agency also flagged multiple violations of the Companies Act. The agency also during its tothe loan fraud probe is focused on loans disbursed by Yes Bank Ltd to Anil Ambani's group companies between 2017 and 2019. Investigators are also examining the possibility of a quid pro quo, suggesting that Yes Bank promoters may have received financial gains shortly before the loans were ED is probing the claims of unlawful diversion of loans totalling an approximate amount. amount of Rs 3000 crore, which Yes Bank disbursed to companies within the Anil Ambani Group between 2017 and 2019. The agency is also investigating the potential quid pro quo arrangements, specifically, whether bribes were offered to Yes Bank officials and promoters in exchange for loan also a linked scam where fake bank guarantees worth Rs 68.2 crore were issued to secure contracts, backed by forged SBI ED is also investigating several senior executives of the Reliance Group for their alleged roles in the fraudulent activities. Notable individuals under scrutiny include:After resigning from Reliance Infrastructure and Reliance Power in March 2022, Anil Ambani is now engaged with the Reliance Group, concentrating on the infrastructure and defence Ambani's loss of wealth resulted from a mix of factors such as an excessively leveraged business approach, unfavourable investment choices, and substantial debt buildup.


Time of India
30 minutes ago
- Time of India
3 duped in job and KYC scams; police register cases in Karnataka's Udupi
Representative Image UDUPI: In separate complaints filed, the victims alleged that fraudsters contacted them, gained their trust with false promises of job opportunities, and tricked them into transferring large sums of money. A woman reportedly fell prey to an online job scam and lost Rs 7.63 lakh. In a complaint, Renuka stated that the incident took place when she was watching a video related to job opportunities on Instagram on July 18 and was prompted to inquire further. She sent a message saying "Hai" via WhatsApp, after which she received a link from that number. Upon opening the link, she was directed to contact a Telegram username: and was instructed to enter a salary code and reach out for further communication. As instructed, the complainant shared her name, address, and bank details. Following this, the accused gave her several tasks. Initially, they took money from her and returned small amounts as part of the task completion to gain her trust. Gradually, they made her complete more tasks and tricked her into transferring a total of Rs 7.63 lakh. A case was registered at the Manipal Police Station invoking Sections 316(2), 318(4), 319(2) of the BNS, and Sections 66(C) and 66(D) of the IT Act. In another case, a man fell victim to a job scam and lost Rs 2.86 lakh. In a complaint, Mallappa stated that the incident took place on July 24. He received a call from an unknown person who claimed to be calling from a company named The caller assured the complainant of providing a job and, under this pretext, convinced him to transfer money. The complainant allegedly transferred Rs 50,000 via UPI and Rs 1.36 lakh via RTGS and on Aug 1 transferred an additional Rs 1 lakh via RTGS to the accused's account. However, he claimed that the accused neither provided any job nor returned the money. In this connection, a case was registered at the Udupi Town Police Station invoking Section 318(4) of the BNS and Section 66(D) of the IT Act. KYC Scam, Man Loses Rs 33 K A man fell victim to a KYC scam and allegedly lost Rs 33,700. In a complaint, Praveen stated that he received a call from an unknown person on July 31, stating that his SBI Credit Card KYC needed to be updated. The caller sent him a link claiming it was for KYC updation. The complainant opened the link, filled in all the required details, and even entered the OTP that was sent. Subsequently, he received a message stating that a total of Rs 33,700 was debited from his credit card. A case was registered at the Udupi Town Police Station under Section 318(4) of the BNS and Section 66(D) of the IT Act.


News18
43 minutes ago
- News18
‘Rs 10,01,35,60,00... Credited': Greater Noida's Dead Woman Receives 36-Digit Amount In Bank Account
Last Updated: When he visited the bank on Monday, officials confirmed the unusual credit but informed him that the account had been immediately frozen. A shocking incident from Dankaur, Greater Noida, has left authorities puzzled. A 19-year-old youth, Deepak alias Deepu, discovered that more than Rs 1.13 lakh crore had been credited to his dead mother's Kotak Mahindra Bank account. His mother, Gayatri Devi, passed away two months ago, but Deepak had continued operating the account. On Sunday night (August 3), he received a message showing an astronomical credit of Rs 10,01,35,60,00,00,00,00,00,01,00,23,56,00,00,00,00,299. Shocked, he shared the message with friends and asked them to count the zeros in disbelief. नोएडा में 20 साल के दीपक के कोटक महिंद्रा बैंक खाते में 36 डिजिट की धनराशि आई है। ये रकम 1 अरब 13 लाख 56 हजार करोड़ रुपए बैठती है। मेरा गणित थोड़ा कमजोर है। बाकी आप लोग गुणा-भाग कर सकते हैं। फिलहाल इनकम टैक्स विभाग जांच कर रहा है। बैंक खाता फ्रीज कर दिया गया है। — Sachin Gupta (@SachinGuptaUP) August 4, 2025 When he visited the bank on Monday, officials confirmed the unusual credit but informed him that the account had been immediately frozen. The Kotak Mahindra Bank team reported the matter to the Income Tax Department for investigation. Youth Turns Off Phone After Calls Flood In The Income Tax Department has launched an inquiry into the mysterious transaction. Officials are trying to find out how such an extraordinary amount was credited to an account belonging to a deceased person. Authorities suspect it could be a banking error, a technical glitch, or possibly linked to money laundering. A detailed audit of the transaction trail is being carried out. Bank officials have also started a parallel review to ensure no internal system failure caused the incident. The exact origin of the funds will only be known after the investigation is completed. Local Buzz and Social Media Reactions The incident quickly became a topic of conversation in Dankaur and on social media. Some users joked about 'instant billionaires," while others raised concerns about cybersecurity and banking safety. For Deepak, however, the experience has been overwhelming rather than joyous. With the account frozen and an investigation underway, he now waits for clarity on how such a massive sum appeared overnight. A Funny Calculation Amid the craze, an X user calculated how much each Indian would get if the money is divided among the whole country's population. 'Total rashi: 1,13,56,000 करोड़ रुपये = 1,13,56,00,00,00,00,000 रुपये. India ki population: 2025 ke hisaab se, India ki population lagbhag 140 crore (1,400,000,000) log hai, based on recent estimates," he said. Chalo, bhai, yeh bhi calculate karte hain!Diya hua data:Total rashi: 1,13,56,000 करोड़ रुपये = 1,13,56,00,00,00,00,000 रुपयेIndia ki population: 2025 ke hisaab se, India ki population lagbhag 140 crore (1,400,000,000) log hai, based on recent 1: Har ek ke— MD RASHID (@MDRASHI08328411) August 4, 2025 Then, he did a step by step calculation of the same, 'Total rashi ko population se divide karte hain: 1,13,56,00,00,00,00,000 ÷ 1,40,00,00,000 Yeh simplify karte hain: 1,13,56,00,00,00,00,000 ÷ 1,40,00,00,000 = 1,13,56,00,00,000 ÷ 1,40 Ab isko calculate karte hain: 1,13,56,00,00,000 ÷ 140 ≈ 81,11,42,857.14" Lastly, he concluded announcing each person's share, 'Jawaab: Agar yeh rashi pure Hindustan ke logon (140 crore) mein barabar baant di jaye, toh har ek ke hisse mein lagbhag 81 crore 11 lakh rupees aayenge! Yeh toh ek banda crore-pati ban jayega." view comments First Published: News viral 'Rs 10,01,35,60,00... Credited': Greater Noida's Dead Woman Receives 36-Digit Amount In Bank Account Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.