CBI moves against Anil Ambani in bank fraud

The bank’s complaint claims that Ambani and RCOM manipulated accounts to hide irregularities, diverted funds, and engaged in complex layering of transactions to disguise the money trail

Metro India News | new delhi

The CBI has registered a new case against industrialist Anil Ambani and Reliance Communications (RCOM) for allegedly causing over Rs 2,220 crore in losses to the Bank of Baroda between 2013 and 2017. The action follows a complaint filed by the bank on Tuesday.

The agency carried out searches at Ambani’s residence and RCOM’s registered offices, seizing documents related to the loans. The bank alleged that the borrowed funds were misused through fictitious transactions with related companies, and the account had been declared a non-performing asset in 2017.

A stay granted by the Bombay High Court on declaring the account as fraudulent was vacated on February 23, 2026, after which the Bank of Baroda filed the complaint.

The bank’s complaint claims that Ambani and RCOM manipulated accounts to hide irregularities, diverted funds, and engaged in complex layering of transactions to disguise the money trail. Between RCOM, Reliance Infratel Ltd (RITL), and Reliance Telecom Ltd (RTL), a total of Rs 31,580 crore was received from banks, with large amounts routed to repay other loans, related parties, and liquidated investments.

Loan funds of Rs 1,783.65 crore raised by RITL were allegedly routed through Reliance Communications Infrastructure Ltd to settle liabilities or transferred to related parties. Multiple high-value assignments and suspicious transactions between the three companies indicate systematic diversion of funds.

The CBI clarified that this case is separate from an earlier investigation involving RCOM and a consortium led by the State Bank of India.

Earlier on Thursday, Ambani appeared before the Enforcement Directorate for further questioning under the Prevention of Money Laundering Act in connection with an alleged Rs 40,000 crore fraud involving Reliance Communications. The investigation is ongoing, and no official response has been received from Ambani or RCOM.