Shock after shock for Anil Ambani: ED arrests associates Amitabh Jhunjhunwala and Amit Bapna

By Samira Vishwas On Apr 17, 2026

Anil Ambani News: Former Reliance Group Chairman Anil Ambani continues to face setbacks. The Enforcement Directorate (ED) has given a shock to Anil Ambani in the money laundering case related to bank loan fraud and arrested his two associates Amitabh Jhunjhunwala and Amit Bapna. ED has taken this action in the Reliance Home Finance Limited (RHFL) and Reliance Home Finance Limited (RCFL) loan fraud case, in which shell or fake companies are alleged to have been used.

Amitabh Jhunjhunwala is considered close to Anil Ambani, he played a role in important decisions and financial operations in the group. Amit Bapna has also been a senior officer of Reliance Finance.

The Enforcement Directorate has arrested Amitabh Jhunjhunwala and Amit Bafna in an ongoing investigation under the PMLA case on the basis of multiple ECIRs registered by the CBI. Amitabh Jhunjhunwala, who was the director of M/s Reliance Capital Limited, is alleged to have been… pic.twitter.com/pDQznF4PID
— IANS (@ians_india) April 15, 2026

Amitabh Jhunjhunwala, a former senior official of Anil Dhirubhai Ambani Group (ADAG), was detained under the Prevention of Money Laundering Act (PMLA) after questioning him. ED has produced Jhunjhunwala in the court and sought his custody for detailed interrogation.

According to the investigating agencies, Amitabh Jhunjhunwala was a director in Reliance Capital Limited, which is the holding company of these companies, from March 2003 to September 2019. Anil Ambani group companies are accused of illegally diverting funds worth more than Rs 40,000 crore. ED has so far attached properties worth about Rs 17,000 crore, which also includes residential property called ‘Abode’ worth Rs 3,700 crore.

More than Rs 11,000 crore turned into NPA

ED investigation has revealed that RHFL and RCFL raised huge amounts of public money from banks and financial institutions, of which more than Rs 11,000 crore turned into NPA. It is alleged that this money was transferred through shell or shell companies to other Reliance group companies, Reliance Infrastructure, Reliance Power, Reliance Communications and Reliance Capital. The investigation also found that these shell companies neither had sufficient financial capacity nor any real business. ED claims that this entire network was prepared for misappropriation of public funds.

Case registered on LIC’s complaint

In fact, earlier this month, CBI registered a case against Reliance Communications Limited, Anil Ambani, some unknown government officials and some other unknown people. It is alleged that he caused a loss of Rs 3,750 crore to the Life Insurance Corporation of India. According to a government statement, the case was registered on the basis of a complaint received from Life Insurance Corporation of India Limited. In this, allegations of conspiracy, fraud, misuse and offenses under the Prevention of Corruption Act were made.

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