The Enforcement Directorate (ED) has ramped up its investigation into Jai Anmol Ambani, questioning him for consecutive days in mid-December 2025. The probe centers on alleged money laundering and financial irregularities linked to the Yes Bank collapse and a separate Union Bank of India fraud case.
The Core Allegations: The Yes Bank Link
The primary reason for the ED's interest in Jai Anmol Ambani involves the massive loan exposure of Yes Bank to companies within the Reliance Anil Dhirubhai Ambani Group (ADAG). Investigators allege a "quid-pro-quo" arrangement between the bank's co-founder, Rana Kapoor, and the Reliance Group.
According to federal officials:
- Explosive Loan Growth: Yes Bank’s exposure to ADAG companies reportedly skyrocketed from ₹6,000 crore in March 2017 to nearly ₹13,000 crore by March 2018.
- Non-Performing Assets: A significant portion of these loans, particularly those directed toward Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL), turned into non-performing investments.
- Financial Loss: The agency alleges that these dealings resulted in a staggering loss of approximately ₹3,300 crore to Yes Bank.
The Union Bank Fraud Case
Adding to his legal woes, the Central Bureau of Investigation (CBI) recently booked Jai Anmol Ambani for allegedly cheating Union Bank of India. The FIR claims that fund diversions and "sham" subcontracting arrangements caused a loss of ₹228.06 crore to the bank. While the Delhi High Court recently set aside a "fraudulent" tag on one of his accounts due to procedural lapses, the criminal investigation remains active.
Who is Jai Anmol Ambani?
Jai Anmol Ambani (born December 12, 1991) is the elder son of Anil and Tina Ambani. Unlike his cousins in the Mukesh Ambani camp, Anmol has maintained a relatively low public profile until the recent financial collapses of the ADAG group companies.
- Education: He studied at Cathedral and John Connon School in Mumbai, Sevenoaks School in the UK, and earned a degree from Warwick Business School.
- Career: He began his career with Reliance Mutual Fund in 2014 and eventually joined the boards of Reliance Capital and Reliance Infrastructure, though he stepped down from the latter within a year.
Current Status of the Probe
The ED recorded Anmol’s statement under the Prevention of Money Laundering Act (PMLA) at their Delhi headquarters. The agency is currently examining fund flows to UAE and Hong Kong, suspecting that public funds were siphoned off through shell companies under the guise of diamond imports.
