Rs 2,929 Crore Bank Fraud Case: CBI summons Anil Ambani for interrogation

Industrialist Anil Ambani on Friday reached the Central Bureau of Investigation (CBI) headquarters in Delhi for the second consecutive day of questioning in connection with the alleged Rs 2,929.05 crore bank fraud involving Reliance Communications Ltd (RCOM). The investigation follows an FIR lodged based on a complaint from the State Bank of India.

Ambani had appeared before the Investigating Officer on Thursday for an eight-hour interrogation.

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Criminal Case Registered

A criminal case was registered against RCOM, Anil Ambani, and other unknown individuals, including unidentified public servants, following a complaint dated August 18, 2025, from SBI. The complaint is based on a forensic audit report alleging large-scale diversion and misuse of loan funds through complex inter-company transactions between 2013 and 2017.

The alleged misappropriation has reportedly caused a wrongful loss of Rs 2,929.05 crore to SBI out of a total exposure of Rs 19,694.33 crore, involving 17 public sector banks.

The State Bank of India is the lead bank in a consortium of 11 public sector banks. Other banks in the consortium include Bank of India, Central Bank of India, UCO Bank, Union Bank of India, Canara Bank, Indian Overseas Bank, IDBI Bank, and Oriental Bank of Commerce, among others.

Multiple Complaints and Expanding Probe

The CBI stated that after the initial complaint, separate complaints were received from several banks, including Punjab National Bank, Bank of India, Union Bank of India, UCO Bank, Central Bank of India, IDBI Bank, and Bank of Maharashtra.

Further, additional cases were registered against RCOM and its directors, including Anil Ambani:

• On February 25, 2026, based on a complaint from Bank of Baroda (including exposures from Dena Bank and Vijaya Bank).
• On March 5, 2026, following a complaint from Punjab National Bank (including exposure from United Bank of India).

Searches Conducted, Documents Seized

In a press release, the CBI confirmed that it obtained search warrants from the Special Judge for CBI, Mumbai, and conducted raids on August 23, 2025. The searches targeted two official premises of RCOM and the residential premises of Anil Ambani in Mumbai. Several incriminating documents were seized during the operation.

The investigation is ongoing, with the agency examining interlinked transactions and alleged financial irregularities across multiple banking institutions and RCOM group entities.