ED quizzes Anil Ambani's son, summons him again

NEW DELHI: After questioning Jai Anmol, industrialist Anil Ambani's son, for more than seven hours on Friday in a Yes Bank related money laundering case, the Enforcement Directorate has summoned him again on Saturday to explain certain transactions.

Anmol Ambani's questioning was held at ED headquarters in Delhi days after the agency had a long session with Rana Kapoor, the promoter of Yes Bank, on Monday in the same case. The agency had then alleged a quid-pro-quo arrangement between Reliance Anil Ambani Group and Kapoor that allegedly resulted in significant losses for Yes Bank while Kapoor was at the helm of the bank.

"Yes Bank had significant exposure of about Rs 6,000 crore to Reliance Anil Ambani Group as on March 31, 2017 and exposure doubled to Rs 13,000 crore as of March 2018. During this time, the bank invested over Rs 5,000 crore in Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL) which were Ambani's group companies," a senior official said. A chunk of these investments, ED had said, turned into non-performing assets.


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