Anil Ambani questioned by probe agency in Yes Bank money laundering case
Reliance Group chairman Anil Ambani appeared before the Enforcement Directorate in Mumbai this morning in connection with a money-laundering probe into crisis-hit Yes Bank and its founder, Rana Kapoor. The central agency had issued a summons earlier this week but Mr Ambani, 60, had asked for a delay citing health concerns. Accepting his request, the agency had told him to appear before it by 11 am.
He will be questioned in connection with loans given by Yes Bank after the Enforcement Directorate filed a case alleging Mr Kapoor had received kickbacks, via companies purportedly controlled by his family, for going slow on bad loans extended by his bank to some big corporates.
Other Reliance Group officials will also be called in this week, sources said.
In a statement issued last week the Reliance Group denied any links with Rana Kapoor, against whom money-laundering and bribery cases have been filed by both the Enforcement Directorate and the Central Bureau of Investigation (CBI).
"Reliance Group states it has NIL direct or indirect exposure to Rana Kapoor, Former CEO of YES Bank, or his wife or daughters, or any entities controlled by Rana Kapoor or his family. Reliance Group says its entire exposure to Yes Bank is fully secured and transacted in the ordinary course of business," the statement read.
"The Reliance Group is committed to honour repayments of all its borrowings from Yes Bank Ltd through its various asset monetisation programmes which are all at advanced stages," the statement added.