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ED probes alleged loan diversion and overseas property purchases
February 26, 2026: Industrialist Anil Ambani appeared before the Enforcement Directorate (ED) in Delhi on Thursday for questioning in connection with an alleged ₹40,000-crore bank fraud case. Investigators are examining claims that company loans were misused and funds were cycled through multiple firms before being diverted overseas. The probe is being conducted under provisions of the Foreign Exchange Management Act (FEMA) and bank fraud regulations.
According to officials, the ED has already attached assets worth nearly ₹12,000 crore as part of the investigation. Among them is a luxury apartment in Bandra, Mumbai, reportedly valued at around ₹3,765 crore. Today’s questioning is said to focus primarily on a New York property estimated at ₹4,865 crore and the source of its funding. The agency is scrutinising whether loan amounts were routed through group entities and transferred abroad.
Anil Ambani reached the ED office at around 10:30 AM for the session. His wife, Tina Ambani, had reportedly not appeared in earlier proceedings related to the matter. With multiple high-value assets already under attachment, officials say the ongoing interrogation could prove crucial in uncovering the financial trail behind the alleged large-scale fraud.