The current inquiry by the Enforcement Directorate (ED) into claims of financial irregularities in the Anil Ambani Group has been stepped up. According to NDTV Profit, the corporation has also started an investigation into the INR 68.2 crore Anil Ambani fresh probe issue.
On the evening of July 28, the ED conducted a series of searches for Anil Ambani in four locations, three of which were in Bhubaneswar and one in Kolkata.
The searches were connected to a business called Biswal Tradelink Pvt. Ltd., a modest organisation under investigation for running a network of shell corporations and providing a phoney bank guarantee worth INR 68 crore to pay commissions.
INR 68 Cr Fake Bank Guarantee: What Happened
Authorities claim that Biswal Tradelink gave the Solar Energy Corporation of India (SECI) a fictitious bank guarantee worth approximately INR 68.2 crore. The company was accused of charging an 8% commission for phoney bank guarantees in the Reliance Group scandal.
Shell Companies and Cloned SBI Emails: The Scam’s Modus Operandi
The thieves used a phoney domain, s-bi.co.in, that was made to resemble State Bank of India’s official website (sbi.co.in).
By sending phoney emails that appeared to be from SECI and other organisations, the cloned domain was utilised to deceive them. By locating communications from suspects, ED officials have demonstrated that the network was using Telegram’s disappearing chat function to evade detection and maintain secrecy.
Link Between Biswal Tradelink and Reliance Group
It was thought that the bank guarantee in the Anil Ambani fraud case was set up to facilitate the transaction between Maharashtra Energy Generation Limited and Reliance NU BESS Private Limited, both of whom are associated with the Anil Ambani business group.
Based on falsified communications that were intended to mimic the State Bank of India (SBI), the agency has concluded that the bank’s guarantee was a fraudulent bank guarantee cost.
When interacting with SECI, the syndicate reportedly tried to pass off the assurance as genuine by substituting the falsified email address “s-bi.co.in” for “sbi.co.in.”
The Decline of Anil Ambani’s Business Empire
Anil Ambani’s attempts to join a number of industries, such as entertainment, defence, and infrastructure, were not very successful. When the Allahabad High Court invalidated the land purchase in 2009, it was a major blow to his plans to build a massive gas-based power station in Dadri, Uttar Pradesh. Additionally, his forays into the entertainment sector, which included agreements with Adlabs and DreamWorks, did not provide the anticipated results.
Ongoing Legal Battles and Past Controversies
When his telecom business, Reliance Communications (RCom), started to accrue significant debt, financial difficulties worsened. The business entered insolvency proceedings in 2019. In the same year, after RCom failed to pay INR 550 crore to Ericsson AB’s Indian unit, the Supreme Court threatened to put Ambani in jail, putting him under intense legal pressure.
By stepping in at the last minute to supply the required finances, Mukesh Ambani was able to keep his brother out of jail. Anil Ambani faced more legal difficulties after three Chinese banks filed a lawsuit against him in a London court over a $680 million loan default.
Anil allegedly offered a personal guarantee when the loans were given to RCom in 2012. Ambani said in court, however, that he had only offered a non-binding “personal comfort letter,” not an asset-tied assurance. This case is still pending resolution.
If you have heard of the Ambani family, possibly the most famous person among them would not be either Mukesh Ambani or his children. The figure is actually his wife, Nita Ambani. A well-known figure in business and philanthropic circles, Nita is the chairperson of the Reliance Foundation and a director at the Dhirubhai Ambani International School. She is one of the co-owners of Reliance Industries and also runs the Mumbai Indians cricket team.
Till 2024, the estimated net worth of Nita Ambani is around INR 2340-2510 crore. This reflects her own contribution to the running and management of all the family businesses along with her philanthropic involvement.
Born to middle-class Gujarati parents in the person of Ravindrabhai and Purnima Dalal in November of 1964, Nita Ambani is an original Mumbaikar and even holds a college degree from the Narsee Monjee College of Commerce and Economics. She is a trained Bharatnatyam dancer and has proven her dancing talent several times.
Nita Ambani was spotted by Dhirubhai Ambani and Kokilaben Ambani at a dance show, where she later met her family with a marriage proposal for the eldest son, Mukesh Ambani. Their marriage was planned after dating for a couple of months back in the year 1985.
After her marriage, she would teach at school for several more years but soon ventured into the family business. She is very close to Dhirubhai Ambani who used to question her on world events every evening. It is her father-in-law whom she attributes to becoming the woman she is today.
Nita and Mukesh Ambani had their twins, Akash and Isha, via IVF seven years after their marriage. But Anant was naturally conceived three years after the twins were born. She is also a grandmother of four little toddlers.
Nita Ambani – founder and chair of Reliance Foundation
Nita Ambani is also the founder and chair of Reliance Foundation, and she is the corporate social responsibility arm for the company, Reliance Industries. She was elected to the Board in 2014 and resigned in August 2023. She preferred to put in all her efforts towards the Reliance Foundation. Nita Ambani still continues to attend all the Reliance Industries Board meetings as a permanent invitee.
Jamnagar Township Project
In 1997, Nita Ambani was working on the company township for the employees who are part of the Reliance refinery in Jamnagar. The project included the construction of environmentally friendly houses for over 17000 residents.
Mumbai Indians
She and her husband are co-owners of the Indian Premier League team-the Mumbai Indians. There are more than 5 titles under their belt currently (2013, 2015, 2017, 2019 and 2020). Not limited to this, she initiated the ‘Education and Sports for All (ESA)’. The initiative was that in return to society, as being made mandatory by Mumbai Indians under their banner, ESA has seen that over 100,000 underserved children have been approached to create awareness concerning education through various digital avenues.
IOC Membership
In 2016, Ambani was one of the eight candidates nominated as a member of the International Olympic Committee by the Swiss panel. The elections for these members took place at the 129th IOC Session in August 2016. Nita Ambani was the first Indian woman to be elected as an IOC member.
Her Circle
The ‘Her Circle’ is a digital platform for women who compete with its own discussion panels and social networking app. Nita Ambani’s Reliance Foundation launched the ‘Her Circle’ app on International Women’s Day in March 2022. This new initiative helps empower women with modern digital tools. Launched for Indian women, but extended to women overseas, the tool provides ladies with a ‘joyful and safe space for interaction, engagement, collaboration, and mutual support.’ As per Nita Ambani, the platform helps women lean on women and their shared experiences help end problems and improve triumphs for each other.
Nita Mukesh Ambani Cultural Centre (NMACC)
Located in the Nita Mukesh Ambani Cultural Centre, it was the first to be inaugurated within the Jio World Centre, Mumbai, in March 2023. The idea for this centre was to focus on community problems such as outreach programs and competitions, award functions, in-residency Guru-Shishya sessions, and literacy programs for adults. The four-storied building has over 16,000 sq ft of space and over three theatres. The biggest of these is a 2000-seat Grand Theatre that has a lotus-themed chandelier with over 8400 Swarovski crystals.
There are more than three dedicated spaces for performance art centres – The Grand Theatre, The Cube, and The Studio Theatre. The centre also has an Art House with a four-story space for both international and Indian artists.
Nita has received multiple awards and accolades for her work in sports, philanthropy, and CSR. These include:
2015: Entrepreneur of the Year – From All India Management Association (AIMA)
2016: Asia’s 50 Most Powerful Women – From Forbes Magazine
2017: Honored by the Metropolitan Museum of Art – From the Metropolitan Museum of Art
2017: Rashtriya Khel Protsahan Award – For promoting grassroots sports
2018-2019:Best Corporate Supporter of Indian Sports – From Times of India
2023: Global Leadership Award for Philanthropy and CSR – From the USA-India Strategic Partnership Forum (USISPF)
Pravinchandra V Gandhi Award for Excellence in Public Life – From the Rotary Club of Bombay
Global Philanthropist and the Leader of the Year Award – From the Vogue India Magazine
2023: Rotary Citizen of Mumbai Award – From the Rotary Club of Bombay
2024: Nita Ambani was awarded the “Outstanding Contribution to Brand India” at CNBC-TV18’s IBLA in Mumbai.
Nita Ambani is also a part of multiple commissions such as the Public Affairs and Social Development through the Sports Commission, the Olympic Channel Commission, and the Olympic Education Commission.
Nita is a trained Bharatanatyam dancer, which played a pivotal role in her introduction to Mukesh Ambani. Dhirubhai Ambani, Mukesh’s father, saw this performance and later proposed the alliance.
As chairperson of the Reliance Foundation, Nita led efforts in these four areas, namely education, health, rural development, and disaster response.
She owns the IPL cricket team called Mumbai Indians, and she bagged several IPL titles with that very team.
Nita formed a great setup of the Reliance Foundation Young Champs initiative, bringing grassroots football across India to its notice.
She was the first Indian lady to win membership in the International Olympic Committee in 2016.
She founded Dhirubhai Ambani International School one of India’s foremost international schools.
She resides at Antilia, one of the pricey private homes available in this world, in Mumbai.
She is known for her exquisite taste and has a collection of customized tea sets, reportedly valued at ₹1.5 crore, and Hermès Birkin bags.
Nita has been vocal about her fitness transformation. After battling weight issues, she adopted a healthier lifestyle, including yoga and a balanced diet.
Nita is an avid collector of Indian and international art. The Ambani family is known for supporting the arts and culture extensively.
Her sense of style and grace often make headlines. She frequently dons creations by top Indian and international designers.
Despite her immense success, Nita Ambani emphasizes the importance of family and often talks about her close bond with her children—Akash, Isha, and Anant—and her husband Mukesh.
Anant Ambani, the youngest scion of the Ambani legacy, is a unique blend of ambition, compassion, and resilience. Anant’s journey has captured both the business world and the public eye, with his love for animals and his innovative role in Reliance’s next-generation ventures. From a challenging health voyage of severe asthma to his grit and transformational involvement in Reliance’s green energy vision, Anant’s story is one of personal evolution and sustainable drive.
While he may be the youngest of the Ambani siblings, his dedication to environmental causes and his growing influence in the business world make him a force to be reckoned with. Through his vision for a sustainable future, Anant, through his leadership, has turned Reliance’s New Energy towards a greener future, aligning with India’s environmental goals.
As a key figure in Reliance Industries, he’s not just a beneficiary of a family legacy but an active participant in shaping its future. With a heart as vast as the wilderness he champions, Anant Ambani is emerging as a unique voice in the world of business and philanthropy.
In this StartupTalky story, let us learn about Anant Ambani’s ambitious vision for animal shelter and renewable energy, his personal life, education, and philanthropy reflecting both a deep-rooted legacy and an innovative future.
Anant Ambani: Biography
Name
Anant Mukesh Ambani
Born
April 10, 1995
Nationality
Indian
Hometown
Mumbai
Education
Dhirubhai Ambani International School, Mumbai Brown University, The United States
Profession
Managing Director, Reliance New Solar Energy Limited Director on the Boards, Jio Platforms Limited Director on the Boards, Reliance Retail Ventures Limited Director on the Boards, Reliance New Energy Limited Director on the Boards, Reliance Industries Director on the Boards, Reliance Foundation
Anant Ambani is the youngest born to business tycoon Mukesh Ambani and Nita Ambani on April 10, 1995. He is the youngest of three siblings, the elder sister Isha Ambani, and brother Akash Ambani. Raised in one of India’s wealthiest families, Anant’s upbringing is marked by privilege, responsibility, and spirituality, as he was introduced to the foundations of his family’s vast business empire early on.
Anant attended Dhirubhai Ambani International School in Mumbai. After completing his primary and secondary education here, he went on to pursue higher studies in the United States, attending Brown University in Rhode Island.
Anant’s early life involved many health challenges, as he struggled with chronic asthma. This led to a noticeable weight gain due to the heavy antibiotics, steroids, and other medications.
After graduating from Brown University in the USA, Anant returned to India and joined Reliance Industries in 2019. Initially, Anant worked alongside his siblings Akash and Isha under the mentorship of their father. By 2022, Anant was chosen as Director of Boards for Jio Platforms Limited, Reliance Retail Ventures Limited, Reliance Industries, and Reliance Foundation.
In 2021, Anant was entrusted with overseeing Reliance’s ventures into solar energy, hydrogen production, and battery technology. In 2022, under Anant’s leadership and innovative ideas, Reliance New Energy diversified to ‘Green Hydrogen Fuel’ as a clean energy source. He played a crucial role in setting up giga factories for solar panel production, battery manufacturing, and fuel cell research in Gujarat. In 2023, Anant was appointed the Director of Boards for Reliance New Energy Limited.
Under Anant’s influence, the company has embarked on several initiatives aimed at enhancing operational efficiency and sustainability. His strategic insights and forward-thinking approach have been instrumental in driving Reliance’s expansion into emerging markets, further solidifying its position as a global leader.
Anant Ambani: Personal Life
Anant Ambani Family
Anant Ambani was married to Radhika Merchant, daughter of Viren Merchant and Shaila Viren Merchant, on 12th July 2024. Theirs was the third grand wedding in India, with celebrations lasting for seven months. The wedding festivities were split between Gujarat and Mumbai and were one of the most talked-about events, attended by global celebrities, business tycoons, and political figures.
In March 2024, Anant and Radhika’s pre-wedding festivities took place in Jamnagar, Gujarat. The grand three-day celebration was held at RIL township in Moti Khavdi Village, sparkled by Hollywood artists like Rihanna and magician David Blaine.
Anant is known to be passionate about sports, particularly cricket, and supports multiple domestic and international cricket events through the Reliance Foundation. He also plays a key role in managing the IPL’s Mumbai Indians cricket team, owned by the Ambani family. He often attends matches and is actively involved in the strategic management of the team alongside his mother, Nita Ambani.
Anant has a penchant for luxury watches and has a massive collection that includes some of the most prestigious brands in the world, including Patek Philippe, Audemars Piguet, Rolex, and Richard Mille. Despite being the son of India’s richest man and being a billionaire himself, Anant is a spiritual, humble, and grounded person with a strong focus on family and legacy.
Anant Ambani: Philanthropy
Anant is involved in various philanthropic initiatives through the Reliance Foundation, led by his mother, Nita Ambani. He is specifically passionate about animal welfare and has established ‘Vantara’, a 3000-acre animal rescue center in Jamnagar, Gujarat, a project very close to Anant’s heart. Due to his profound knowledge and interest in wildlife conservation, Anant is recognized as the ‘walking encyclopedia of animals.’
Through ‘Vantara’, Anant aims to rehabilitate abused and endangered animals by providing advanced healthcare facilities, research centers, and academic institutions. Under Anant’s vision to protect animals, Vantara has collaborated with organizations such as the International Union for Conservation of Nature (IUCN) and the World Wildlife Fund for Nature (WWF).
To lay emphasis on education for all, Anant supports many education-related programs held by the Dhirubhai Ambani International School in Mumbai. Under this initiative, the school offers scholarships to underprivileged children and emphasizes holistic development alongside academic excellence.
During COVID, Anant Ambani was actively involved in Reliance’s extensive relief efforts to set up India’s first dedicated COVID-19 hospital in Mumbai. This helped the frontline workers with PPE kits and provided the latest medical equipment to help the public.
Anant is known for his deep spiritual beliefs and makes massive donations to various temples in India. He has been seen making pilgrimages and participating in various religious ceremonies. Anant has recently donated a 20-kilogram gold crown worth $150 million to Mumbai’s famous Lalbaug Cha Raja Ganpati under the Reliance Foundation.
Apart from this, Anant’s wife, Radhika, who is also a trained classical dancer, is also engaged in promoting art for underprivileged individuals and other social impact ventures. Anant and Radhika’s role as philanthropists emphasizes on their commitment to bringing a positive change in society and uplifting underprivileged societies.
Anant Ambani has on most occasions maintained a low-profile public image; however, given the fame of the Ambani family, he has occasionally been brought to the spotlight in negative form.
1. Weight Loss Journey: Anant has faced a lot of criticism on his weight. In 2016, when he underwent a major weight loss transformation, it did attract a lot of media coverage. While his journey was largely praised, many raised questions about the extreme measures and medical treatments that were taken.
2. Wedding with Radhika Merchant: Anant and Radhika’s wedding also faced a lot of criticism and social media discussions on the opulence associated with the Ambani family. The spark arose when, during the wedding festivities, Jio increased their call rates and data charges.
3. Concerns About Alleged Privilege in the Business Sphere: As Anant prepares to take on a larger role in Reliance’s New Energy sector, some critics have speculated about his potential influence given the Ambani family’s impact on Indian business and policy.
Anant Ambani: Awards And Recognition
Anant Ambani has been awarded with the following awards:
Honorary Membership of Lalbaug Cha Raja Sarvajanik Ganesh Utsav Mandal.
Member of the Badrinath-Kedarnath Temple Committee, appointed by the Uttarakhand Chief Minister TS Rawat in March 2019.
Anant Ambani is the youngest son of Mukesh Ambani, the chairman of Reliance Industries, one of India’s largest conglomerates. Known for his role within the family business, Anant is gradually taking on responsibilities in various sectors of Reliance Industries, particularly focusing on the group’s newer ventures, like clean energy and green technology.
Who is Anant Ambani wife?
Radhika Merchant is the wife of Anant Ambani. They got married in a lavish ceremony held from July 12 to July 14, 2024.
What is Anant Ambani education?
Anant Ambani finished his schooling at Dhirubhai Ambani International School in Mumbai. He then went on to study at Brown University, an Ivy League school in Rhode Island, USA.
