Lookout notice issued after ED summons Anil Ambani on Aug 5

Official sources said the Enforcement Directorate (ED) had issued a Lookout Circular against Reliance Group Chairman Anil Ambani. A Lookout Circular (LOC) is a legal tool used by law enforcement to prevent individuals — especially those accused of financial crimes — from leaving the country.

Its main purpose is to stop the accused from evading legal proceedings by alerting immigration and border control. The LOC is circulated to all entry and exit points.

The ED had earlier summoned Ambani on August 5 for questioning over an alleged Rs 3,000 crore bank loan fraud-linked money laundering scam.

On July 24, the agency had carried out a massive search operation spanning over 50 companies and more than 25 individuals connected to the case.

According to a senior probe agency official, the money laundering probe stems from FIRs earlier registered by the Central Bureau of Investigation (CBI) and information shared by other institutions such as the National Housing Bank, SEBI, National Financial Reporting Authority (NFRA) and Bank of Baroda.

According to ED, the investigation has uncovered a well-planned scheme involving illegal diversion of public money through fraudulent means, allegedly involving cheating of banks, shareholders, investors and other financial institutions.

The agency is also probing allegations of bribery involving officials of Yes Bank, including its promoter.

Preliminary findings suggest that loans amounting to approximately Rs 3,000 crore were illegally diverted from Yes Bank between 2017 and 2019. The ED has found that just before these loans were sanctioned, entities linked to Yes Bank promoters received significant financial transfers, raising concerns of a quid pro quo arrangement.