Anil Ambani Leaves ED Head Quarters After Nine Hours Of Questioning; Summoned Again On Friday

Anil Ambani, the 66-year-old chairman of Reliance Group, concluded a lengthy nine-hour questioning session at the Enforcement Directorate (ED) headquarters regarding a suspected bank loan fraud tied to Reliance Communications. This marks Ambani's second visit to the ED, as he faces scrutiny over allegations of irregularities in obtaining loans for his telecom venture. The questioning is part of a broader investigation into financial misconduct and misallocation of bank funds, which has raised significant concerns in the corporate sector. Ambani is scheduled to return for further questioning on Friday, as investigators seek to clarify his role and the extent of his involvement in the alleged fraud. The case has not only implications for Ambani but also reflects the ongoing regulatory challenges faced by major business figures in India amidst tightening financial oversight. As investigations continue, the corporate world watches closely, given the potential ramifications for the broader economy and investor confidence.