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Earlier on July 23, ED raided more than 35 locations associated with Anil Ambani’s Reliance Group. (File photo)
The CBI has raided several locations of Reliance Group of Anil Ambani on 23 August today. According to media reports, this Red Bank fraud has been done in Mumbai. Apart from this, CBI has also registered an FIR on Anil Ambani.
According to media reports, this has been done in a loan fraud case of Rs 3000 crore from Red Yes Bank. Earlier on July 23, ED raided more than 35 locations associated with Anil Ambani’s Reliance Group.
4 Questions and answers whole matter:
Question 1: Why has CBI action against Anil Ambani’s group?
answer: The case is related to a loan of about Rs 3,000 crore given by Yes Bank to Reliance Group companies associated with Anil Ambani between 2017 and 2019.
Initial investigation revealed that these loans were allegedly diverted to fake companies and other units of the group. The investigation also revealed that the big officials of Yes Bank have probably been given bribe.
Question 2: What is the role of CBI in this case?
answer: The CBI had registered an FIR in two cases. These cases are related to two different loans given by Yes Bank to Reliance Home Finance Limited and Reliance Commercial Finance Limited. In both cases, CBI took the name of former CEO Rana Kapoor of Yes Bank.
After this, an official said that other agencies and institutions like National Housing Bank, SEBI, National Financial Reporting Authority and Bank of Baroda also shared information with ED. Now ED is investigating this case.
Question 3: What has been revealed in the investigation so far?
answer: The ED had said in its report that it was a “thought and well-planned” plan, under which money was grabbed by giving incorrect information to banks, shareholders, investors and other public institutions. Many disturbances were caught in the investigation, such as:
- Loans to companies with weak or unnecessary verification.
- Many companies use the same director and address.
- The absence of necessary documents related to loan.
- Transfer money to fake companies.
- The process of giving new loans to repay the old loan (loan earrings).
Question 4: What else are there on Anil Ambani companies?
Answer: A few days ago, State Bank of India declared Anil Ambani’s company Reliance Communications and Anil Ambani himself as “fraud”.
SBI says that RCom misused a loan of Rs 31,580 crore taken from the bank. Out of this, about Rs 13,667 crore was spent in repaying loans of other companies. 12,692 crore rupees were transferred to other companies of Reliance Group.
SBI also said that we are in the process of filing a complaint with the Central Bureau of Investigation (CBI) in this case. Apart from this, the action of Personal Insolvency (Insolvency) against Anil Ambani is also going on in the National Company Law Tribunal (NCLT) Mumbai.
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