CBI Lodges New Rs 2,200 Crore Fraud Case Against Anil Ambani, RCom

New Delhi, Feb 27: The Central Bureau of Investigation (CBI) on Thursday registered a fresh FIR against industrialist Anil Ambani, Reliance Communications (RCom), and other unidentified individuals over an alleged bank fraud exceeding Rs 2,200 crore. Searches were conducted at Ambani’s residence and RCom’s registered offices in connection with the case.

The FIR alleges conspiracy, cheating, and diversion of funds through fictitious transactions and manipulated accounts, causing massive losses to Bank of Baroda. The CBI has invoked provisions under the Indian Penal Code and the Prevention of Corruption Act, citing criminal misconduct and misuse of official positions.

According to the agency, credit facilities were siphoned off via shell entities and related-party dealings that concealed RCom’s true financial health. The account, flagged as a non-performing asset nearly nine years ago, could not be classified as “fraud” earlier due to legal stays imposed by Ambani in the Bombay High Court, which were lifted on February 23, allowing criminal proceedings to move forward.

The CBI clarified that this investigation is distinct from an ongoing SBI-led consortium case. “This pertains to a separate loan availed by RCom from Bank of Baroda, Vijaya Bank, and Dena Bank, not linked to the SBI consortium case,” a spokesperson said.

The Supreme Court had recently directed the CBI to file separate FIRs for complaints lodged by different banks against the Anil Ambani group, paving the way for multiple independent probes into alleged financial irregularities.