Indian ED summons businessman Anil Ambani for questioning in a Rs 17,000 crore loan fraud case.

The Enforcement Directorate (ED) in India has summoned businessman Anil Ambani for questioning on August 5 in connection with an alleged Rs 17,000 crore loan fraud case. The investigation, under the Prevention of Money Laundering Act (PMLA), involves financial irregularities and loan diversions from Yes Bank to multiple group companies between 2017 and 2019. The ED conducted searches at 35 premises and raided 50 companies and 25 individuals linked to Ambani’s business group. The probe is based on information from SEBI, the National Housing Bank, and Bank of Baroda.