ED to summon Tina Ambani again over money trail linked to NY condo
ED to summon Tina Ambani again over money trail linked to NY condo
Enforcement Directorate plans fresh summons to Tina Ambani in a widening money-laundering probe tied to Reliance group, after significant asset attachments and a complex money trail.
The Enforcement Directorate is set to issue fresh summons to Tina Ambani, wife of industrialist Anil Ambani, to record her statement in connection with an alleged money-laundering case linked to the Reliance Anil Ambani group. She did not appear before the agency on February 9, and a new summons has been scheduled for February 17.
Earlier in January, the ED provisionally attached properties worth ₹1,885 crore linked to RHFL, RCFL, and RCom, taking the total attachments in these cases to about ₹12,000 crore. The latest attachments covered bank balances, receivables, shareholding in unquoted investments, and immovable assets across the group.
The ED alleges fraudulent diversion of public money by several Reliance Anil Ambani group companies, including RCom, RHFL, RCFL, Reliance Infrastructure, and Reliance Power Limited. It is claimed that during 2017-19, Yes Bank invested ₹2,965 crore in RHFL instruments and ₹2,045 crore in RCFL instruments. By December 2019, these became non-performing investments. The outstanding was ₹1,353.50 crore for RHFL and ₹1,984 crore for RCFL. RHFL and RCFL received public funds of more than ₹11,000 crore. Before Yes Bank invested this money in the Anil Ambani group companies, it had received funds from erstwhile Reliance Nippon Mutual Fund. Under SEBI regulations, Nippon Mutual Fund could not invest or divert funds directly into the Anil Ambani group finance companies.
The ED’s actions form part of a broader probe into the money-laundering allegations and asset movements involving the Reliance group's financial dealings.
