ED arrests consultant in Ambani group loan fraud case
after close1 source ↓written by the desknot a recommendation
- loan fraud involving
- ₹68 crore
- the ED
- 14 Nov 2023
The Enforcement Directorate (ED) arrested Amar Nath Dutta in connection with a ₹68 crore loan fraud involving the Reliance Anil Dhirubhai Ambani Group. This marks the third arrest in the investigation, which includes allegations of submitting forged bank guarantees for a tender. Anil Ambani is scheduled to appear before the ED on 14 Nov 2023.
This development may heighten scrutiny on the Reliance ADA Group, potentially impacting investor sentiment in the sector. 📉
• Third arrest in ongoing investigation
• Dutta allegedly involved in forged bank guarantees
• Anil Ambani summoned for questioning
Not investment advice. For informational purposes only.