Reliance Communications, Anil Ambani’s Premises Raided By CBI After SBI Reports Over ₹2,000 Crore Fraud
The entities were classified as fraud on June 13 in accordance with the RBI's Master Directions on Fraud Risk Management and Bank's Board-approved Policy on Classification, Reporting & Management of Frauds, Minister of State for Finance Pankaj Chaudhary had said in a written reply in the Lok Sabha last month.
The agency is conducting searches at the premises linked to RCOM and its Promoter Director Anil Ambani, they said. | File Pic
Mumbai: Central Bureau of Investigation has registered a criminal case on 21.08.2025 on basis of a complaint received from State Bank of India, Mumbai against M/s Reliance Communication Ltd. (RCOM), Mumbai, its Director Sh. Anil D. Ambani, Unknown public servants and unknown others on the allegations of defrauding the bank, and thereby causing wrongful loss of ₹2929.05 Crores to the Bank.
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It is alleged that accused persons, in criminal conspiracy, misrepresented and got sanctioned credit facilities from SBI in favour of M/s Reliance communication Ltd. Further, the allegations pertain to misutilization / diversion of loan funds, potential routing of loan funds, inter-company loan transactions, misutilization of sales invoice financing, discounting of bills of RCOM by M/s Reliance Infratel Ltd., movement of funds through inter corporate deposits, write off of capital advances given to M/s Netizen Engineering Pvt. Ltd.- a group company of Reliance ADA Group, and creation/write off of fictitious debtors, etc. By the aforementioned acts the accused persons are alleged of committing offences of criminal conspiracy, cheating, criminal breach of trust.
CBI obtained Search Warrants from the Hon’ble Court of Spl. Judge, CBI, Mumbai on 22.08.2025 and, in pursuance thereof, is conducting searches today (23.08.2025) at two locations in Mumbai i.e. at the official premises of M/s Reliance Communication Ltd., and residential premises of Sh. Anil D Ambani.
The searches are still continuing.
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