NEW DELHI: Reliance Group chairman Anil Ambani was on Tuesday asked about his foreign assets and other transactions, both in India and overseas, during his more than eight hours of questioning at Enforcement Directorate headquarters here, in connection with a money laundering investigation against his group entities.Sources said Ambani’s questioning is likely to continue and he may be called for another round in a few days. ED had conducted searches on at least 35 premises in Mumbai linked to the industrialist on July 24-27, covering at least 50 entities and 22 individuals, during which the agency had seized several documents and digital records.Today the Ambani’s statement was recorded & during examination, various questions pertaining to loan transactions were put to him. Ambani has sought seven days to furnish the requisite details and supporting documents, sources said.The agency is probing alleged round-tripping of funds and related party transactions, some of them linked to Reliance Infrastructure, which had allegedly received funds from entities not disclosed earlier.The investigation also includes irregularities pointed out by Sebi and a forensic audit of Reliance Home Finance Ltd (RHFL), in particular “loans of more than Rs 12,000 crore” extended to various group entities. These companies had a common registered address, email ID/domain, address and directors. The Reliance Group has contested the amount of loans extended.A report released by Sebi had noted that as on Sept 30, 2021, Rs 6,931 crore had been declared as NPA/written off by RHFL out of loans extended to linked/associated entities of the Ambani group.A spokesperson for Reliance Anil Dhirubhai Ambani Group had, however, denied allegations of money laundering & said that “the account of RHFL has been fully resolved with change in management pursuant to the judgment of the SC in 2023… Allegations of other irregularities are sub judice and as a matter of fact, Sebi order has been challenged before SAT since 2024″.The agency is also probing Ambani and his entities in a loan fraud of Rs 3,000 crore received from Yes Bank where he is alleged to have bribed the bank’s former CEO Rana Kapoor for Rs 225 crore. Reliance Communication and its loan default of Rs 1,050 crore to Canara Bank is another investigation related to the group.
