The directorate of enforcement (ED) is set to issue fresh summons to Tina Ambani, wife of Reliance Anil Dhirubhai Ambani group (ADAG) chairman Anil Ambani, after she failed to appear before the agency for questioning in a money laundering case earlier this week.
Ms Ambani was asked to depose before the agency on Monday, but reportedly did not join the investigation. She has now been summoned again on 17th February, while Anil Ambani has been asked to appear the following day, on 18 February 2026. Their statements will be recorded under the Prevention of Money Laundering Act (PMLA).
The questioning is linked to a wider probe into alleged bank fraud and financial irregularities involving companies of ADAG. Investigators are understood to be examining a money trail connected to the purchase of a luxury condominium in Manhattan, New York, among other transactions, media reports say.
The fresh summons comes amid an intensifying enforcement push against the group. In January, ED provisionally attached assets worth about ₹1,885 crore, taking the total value of attachments across multiple cases to around ₹12,000 crore. These include bank balances, receivables, unquoted shareholdings and immovable properties linked to group entities such as Reliance Communications Ltd (RCom), Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL).
According to the agency, the cases stem from alleged fraudulent diversion of public funds and bank loans running into thousands of crores of rupees. ED has alleged that between 2017 and 2019, Yes Bank invested about ₹2,965 crore in RHFL instruments and around ₹2,045 crore in RCFL instruments which later turned non-performing. It has claimed that these investments were part of a circuitous routing of public money, allegedly designed to bypass conflict-of-interest rules under SEBI (Securities and Exchange Board of India) regulations.
The agency has further alleged that group companies raised loans from domestic and overseas lenders FY10–12 onwards, with outstanding dues of about ₹40,185 crore. Nine banks have classified the group’s loan accounts as fraud, ED says, alleging diversion of funds for loan evergreening, transfers to connected parties and investments in fixed deposits and mutual funds.
The probe has gathered pace following judicial scrutiny. Last week, the Supreme Court directed ED to constitute a special investigation team (SIT) dedicated to investigating allegations of large-scale bank fraud by RCOM, its group entities and Anil Ambani. Among other directions, the Court also directed central bureau of investigation (CBI) to ensure that any possible collusion by bank officials in the alleged fraud is investigated.
ED investigators allege that during this period, Mr Garg was actively involved in the acquisition, concealment, layering and dissipation of proceeds of crime, generated through fraudulent bank borrowings by RCOM.
The agency claims that funds were routed through multiple foreign subsidiaries and offshore entities, forming part of a complex laundering structure designed to move money out of India and disguise its origin.
One of the most serious allegations relates to the purchase of a luxury condominium apartment in Manhattan, New York, allegedly using proceeds of crime. ED says the property was sold during the corporate insolvency resolution process (CIRP) of RCOM without the knowledge or consent of the resolution professional.
According to the agency, the sale proceeds of US$8.3mn (million) were remitted from the US under the guise of a sham investment arrangement with a Dubai-based entity, controlled by a Pakistan-linked individual.
The arrest comes days after ED provisionally attached assets worth ₹1,885 crore linked to the Reliance ADAG in multiple bank fraud cases, including those involving RCOM, RHFL and RCFL.
The Reliance ADAG, for its part, has denied the allegations. In earlier statements, group companies have said Anil Ambani does not hold board positions in certain listed entities and have disputed the findings of enforcement agencies.
The upcoming questioning of Tina and Anil Ambani is expected to be a key step in ED’s effort to map fund flows and individual roles in one of the largest bank-linked financial probes in recent years.
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Was the manhattan apartment another costly gift Anil Ambani gave to Tina, like the 20 mn Tian, at cost of the shareholders of listed companies. Money raised from bank loans, layered through shell companies for funding anil ambanis family’s luxurious lifestyle.
As the rumors go, the apartment was bought when Ambanis son was moving for studies in New York. Even staff from India used to shuttle from Mumbai to US for cooking and housekeeping at expense of listed companies. The US subsidiaries footing the expensive bills for maintenance and upkeep too. After 2020, the apartment was leased as the fund flows started drying, or milked out completely.
What happened with the funds that were diverted through a Pakistani national is yet to be revealed, but if another shell company ended up buying an apartment in Dubai, where Tina Ambani once hosted a big bash in 2023, she may have much more to answer to the sleuths next Tuesday.
What would be interesting is the Wednesday meeting between anil Ambani and ED. The day Ambani used to make his weekly trips to Delhi religiously for networking in the power circles.
It is pertinent that Anil Ambani will be confronted with Punit Garg; the duo meeting after a long gap of 14 days, 2 days before Garg was arrested after a day long questioning at ED HQ. With Garg’s remand extended by the court, it is quite likely that he will continue singing like a canary before Tina Ambani lands in Delhi next monday evening alongwith hubby Anil (the plans as of now)
It’s going to be another long weekend of meetings at Abode, with lawyers and power brokers. Will Anil Ambani emerge out of ED HQ on Feb 18th evening, will be captured by dozens of cameras of news channels next Wednesday. That’s if he ends up appearing. As the next in line is going to be his elder son, who was also a beneficial user of the manhattan apartment while he studied there. And then the close to 400,000$ or of payments made for the renovations & interiors supervised by Tina Ambani herself.
When Anil Ambani last met ED, the questioning started with the source of funds and their movement. After 5 months, the line of questioning may start from where the funds finally ended. The common thread being that all funds ended up at discretion of none other than Anil Ambani. Feb 18th will be a major day in Anil ambanis life. If he does come out and drives back to his Delhi guest house, he would have gone Scot free from the long list of cases and the 1.5 lakh crore siphoning.
Next Wednesday, anil Ambani will face the heat in cold Delhi winter, and he is left alone to face it all without the guidance of Jeffery Epstein or company of a tall Swedish blonde.