ED Issues Lookout Circular Against Anil Ambani, Summons Him for Questioning on August 5

The Enforcement Directorate (ED) has issued a Lookout Circular (LOC) against industrialist Anil Ambani, preventing him from leaving the country without prior approval. The development is linked to an ongoing investigation under the Foreign Exchange Management Act (FEMA).

The ED has also summoned Anil Ambani to appear before its officials on August 5 for questioning in connection with alleged irregularities related to foreign investments and financial transactions under FEMA.

High-Profile Financial Probe

The case reportedly pertains to alleged overseas investments and foreign asset disclosures, which are being scrutinized under the provisions of the FEMA. The LOC was issued to ensure Ambani’s availability for investigation and to prevent any risk of evasion.

According to official sources, the financial probe has entered a crucial stage, and Ambani's appearance is critical for further progress in the case. He has been asked to bring relevant financial documents and provide clarity on transactions flagged by the agency.

Background: Past Investigations

This is not the first time Anil Ambani’s financial dealings have come under scrutiny. His name has previously surfaced in connection with high-value corporate debt defaults and offshore financial holdings, especially after the revelations made during the Pandora Papers investigation.

Ambani had earlier claimed in court affidavits that he possessed "no meaningful assets", particularly during a UK court hearing in 2020 over debt-related matters. However, Indian agencies have since begun deeper inquiries into the contradictions and complexity of his financial structure.

ED Tightens Oversight

The ED has been actively investigating high-net-worth individuals and corporate entities under FEMA and PMLA (Prevention of Money Laundering Act), especially in cases where foreign assets, offshore companies, or foreign funding are involved.

The issuance of the LOC reflects the agency’s intent to ensure full cooperation in financial probes and maintain jurisdictional control over persons of interest.

What’s Next?

Anil Ambani is expected to appear at the Mumbai ED office on August 5. If he fails to do so, the agency may take further legal steps, which could include more stringent measures such as arrest warrants or expanded financial restrictions.

There has been no official statement from Anil Ambani or Reliance Group representatives at the time of filing this report.