Anil Ambani Faces Lookout Notice in ₹3,000-Crore Loan Fraud Investigation
Agencies tighten scrutiny on Anil Ambani as loan fraud investigation gains significant momentum.
Lookout Notice Issued Against Anil Ambani in ₹3,000-Crore Loan Fraud Case
New Delhi: Investigative agencies have issued a lookout notice against businessman Anil Ambani in connection with an alleged ₹3,000-crore loan fraud case. The notice, confirmed by senior sources on Tuesday, bars Ambani from leaving India without official clearance. Officials said the action was necessary to ensure his availability as the probe gains momentum.
Alleged Loan Irregularities Under Investigation
The case involves a series of loans sanctioned by a consortium of banks to Reliance Group companies. Investigators allege that a large portion of the funds remains unpaid and that some money may have been diverted for unauthorized purposes. A forensic audit ordered by the banks reportedly uncovered several irregularities, prompting the Enforcement Directorate (ED) and also the Central Bureau of Investigation (CBI) to open parallel investigations.
According to sources, the ED and CBI have already questioned multiple senior company executives, financial controllers, and external consultants. The agencies also conducted raids at Reliance Group offices and Ambani’s residences last month, seizing important documents, electronic records, and internal communications. Officials confirmed that several bank accounts connected to the case have been frozen as part of the investigation.
Authorities Clarify the Purpose of the Notice
A senior ED officer explained that the lookout notice is a procedural step and does not indicate guilt. “This measure simply prevents the person from traveling abroad until the investigation reaches a key stage,” the officer said.
Analysts believe investor sentiment could be affected in the short term. “Whenever major investigations involve large corporations and banking institutions, markets tend to react with caution,” said market analyst Vishal Mehta. He added that while Reliance Group operations appear stable for now, prolonged uncertainty could eventually impact business confidence.
Banking regulators are closely tracking the case. Senior officials also said they may tighten oversight on high-value corporate loans to prevent similar situations. Legal experts also suggested that the ED and CBI might file a detailed chargesheet once their evidence collection is complete. “If the agencies can prove fund diversion or deliberate default, the chargesheet could lead to further legal action,” said senior lawyer Shalini Desai.
Investigation to Continue Thoroughly
A CBI spokesperson stressed that the investigation would remain thorough and impartial. “We will follow all leads and take the case to its logical conclusion. Everyone is accountable under the law,” the spokesperson said. Authorities emphasized that they are focused on determining how the loans were utilized and whether criminal intent was involved.
