The Enforcement Directorate (ED) on Thursday questioned businessman Jai Anmol Ambani in connection with an ongoing money-laundering investigation linked to alleged irregularities in bank loans availed by group-linked entities, official sources said. The questioning forms part of the federal agency’s wider probe under the Prevention of Money Laundering Act (PMLA), aimed at examining fund flows, end-use of borrowings and possible diversion of proceeds.
Preliminary findings by the ED suggest potential diversion of funds and questionable loan practices, including issuance of credit without adequate due diligence, routing through shell entities, and possible quid-pro-quo arrangements, which the agency believes could amount to laundering proceeds of crime.
In recent months, the ED has also provisionally attached assets linked to Ambani’s group worth over Rs 3,000 crore, spanning residential and commercial properties in major cities, as part of measures to secure potential proceeds of the alleged offences.
Preliminary findings by the ED suggest potential diversion of funds and questionable loan practices, including issuance of credit without adequate due diligence, routing through shell entities, and possible quid-pro-quo arrangements, which the agency believes could amount to laundering proceeds of crime.
In recent months, the ED has also provisionally attached assets linked to Ambani’s group worth over Rs 3,000 crore, spanning residential and commercial properties in major cities, as part of measures to secure potential proceeds of the alleged offences.
This development follows earlier investigations that led to multiple summons issued to Ambani and associates, raising the profile of the case across regulatory, banking, and corporate governance circles. The probe underscores intensified enforcement efforts by Indian financial crime authorities to trace and curb complex laundering and fraud schemes in the corporate sector.
