On March 20, industrialist Anil Ambani attended the Central Bureau of Investigation (CBI) headquarters in New Delhi for the second consecutive day of questioning related to the alleged bank fraud involving Reliance Communications Limited (RCOM). The investigation centers around a complaint filed by the State Bank of India (SBI), leading to the registration of a First Information Report (FIR).

Background of the Allegations

The FIR was prompted by a complaint dated August 18, 2025, which identifies Reliance Communications Limited, Anil D. Ambani, and several unnamed individuals as potential defendants, including unidentified public servants. The complaint arose from findings in a forensic audit that purportedly reveals significant diversion and misuse of loan funds among interconnected entities between 2013 and 2017, resulting in an alleged financial loss of Rs 2929.05 crore to SBI out of a total exposure of Rs 19694.33 crore taken on by a consortium of eleven public sector banks.

Details of the Ongoing Investigation

The CBI’s case builds upon the initial complaint from SBI, after which additional inquiries were opened following complaints from other banks, including Punjab National Bank, Bank of India, and Union Bank of India, among others. These further investigations have highlighted extensive fund mismanagement and irregular practices. The nature of the fraud raised alarms about practices within the financial institutions involved and the handling of loans to RCOM.

Search Operations Conducted

On February 25, another case was initiated against Reliance Communications Limited and Anil Ambani based on a complaint received from Bank of Baroda, which pertains to exposures from Dena Bank and Vijaya Bank. Additionally, a separate case was filed on March 5, originating from a complaint by Punjab National Bank that also includes connections to United Bank of India. The CBI has conducted thorough investigations, including obtaining judicial search warrants, and executed searches at two official premises of RCOM as well as Ambani’s residential locations in Mumbai on August 23, 2025. During these operations, several documents deemed incriminating were confiscated.

Duration of Interrogation

Anil Ambani’s first day of interrogation lasted approximately eight hours, reflecting the seriousness and complexity of the matters being investigated. As allegations mount and more details emerge, the inquiry continues to delve into the financial dealings of RCOM and its executives. The investigation remains active as authorities collaborate with multiple financial institutions to unravel the extent of the alleged fraud.

Long or Short, get news the way you like. No ads. No redirections. Download Newspin and Stay Alert, The CSR Journal Mobile app, for fast, crisp, clean updates!

App Store –  https://apps.apple.com/in/app/newspin/id6746449540 

Google Play Store – https://play.google.com/store/apps/details?id=com.inventifweb.newspin&pcampaignid=web_share