The Business Times

Anil Ambani

Banking & Finance

India freezes over 75 billion rupees in assets tied to Anil Ambani in bank fraud probe

The tycoon strongly denies the allegations and will contest them

The group is accused of orchestrating a “well-planned” scheme to siphon off bank loans from YES Bank worth 30 billion rupees (S$443.1 million) between 2017 and 2019 to many shell companies.
International

India's financial crime agency probes Anil Ambani's Reliance Group

It’s accused of money laundering and siphoning of public funds

Reliance Power says it has lodged a police complaint against the third party that arranged the bank guarantee, which was found to be fake.
Companies & Markets

India’s top clean energy agency weighs criminal proceedings against Reliance Power

This comes as the company looks to expand into the domestic and overseas renewable energy sector

Anil Ambani is said to have orchestrated a scheme to “siphon off” funds from Reliance Home Finance, a listed subsidiary of conglomerate Reliance Group of which he is chairman.
Companies & Markets

Anil Ambani banned from Indian securities market for 5 years

The Securities and Exchange Board of India also imposed a fine of 250 million rupees (S$3.89 million) on Ambani

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