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The Central Bureau of Investigation has filed a case against Reliance Communications and its promoter-director Anil Ambani, for an alleged bank fraud that caused a loss of over Rs 2,000 crore to State Bank of India, officials said o.
The agency is carrying out searches at the residence of Anil Ambani and premises linked to RCOM in connection with the case, they said.
AS reported by PTI, The CBI took the action based on a complaint from the lender State Bank of India, which had approached the agency after the entities were classified as fraud on June 13, in accordance with the RBI’s Master Directions on Fraud Risk Management and the Bank’s Board-approved Policy on Classification, Reporting & Management of Frauds.
“On June 24, 2025, the bank reported classification of fraud to RBI, and is also in the process of lodging complaint with CBI,” Minister of State for Finance Pankaj Chaudhary had said in a written reply in the Lok Sabha last month.
The credit exposure of SBI in RCom includes, fund-based principal outstanding amount of Rs 2,227.64 crore along with the accrued interest and expenses with effect from August 26, 2016, and a non-fund-based Bank Guarantee of Rs 786.52 crore, he had said.
RCom is undergoing the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016.
The resolution plan was approved by the Committee of Creditors and filed with the National Company Law Tribunal (NCLT), Mumbai, on March 6, 2020.
