Industrialist Anil Ambani appeared before the Enforcement Directorate (ED) in Delhi on Tuesday for questioning in connection with an investigation into alleged money laundering and a ₹17,000 crore loan fraud. The ED issued a lookout notice against him, a standard procedure to prevent a person from leaving the country during a major investigation.

The probe, initiated under the Prevention of Money Laundering Act (PMLA), is focused on alleged financial irregularities and the diversion of public funds. The ED is scrutinizing the role of Ambani and his companies in the case, with his statement expected to be a crucial part of the investigation.

This development follows an extensive search operation on July 24, when the ED raided over 35 premises linked to 50 companies and more than 25 individuals associated with the Reliance Group. The agency believes the fraud involved a "well-planned scheme" to defraud banks, shareholders, and investors by diverting and siphoning off public money.

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In a related development, the ED arrested one person in the case last week, an individual who allegedly arranged a fake bank guarantee for a Reliance Group company. The investigation is also looking into the role of lending banks and potential irregularities in their loan approval processes.