Mumbai: Central Bureau of Investigation (CBI) 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 Anil D. Ambani, unknown public servants and unknown others on the allegations of defrauding the bank, and thereby causing wrongful loss of Rs 2929.05 crores to the bank.
About The Case
According to the CBI, it is alleged that during the period of 2013 and 2017, the accused persons, in criminal conspiracy, misrepresented and got sanctioned credit facilities from SBI in favour of M/s Reliance Communication Ltd. The CBI sources said that the complainant in the case is Jyoti Kumar, working as deputy general manager of the stressed assets management Branch, Mumbai.
Reliance Communication Limited (RCOM), established in Dec-2002 was providing wireless, wireline, and IT infrastructure services in India and abroad, together with its subsidiary companies. RCom exited the consumer mobile service business in December 2017.
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 committed offences of criminal conspiracy, cheating, and criminal breach of trust.
CBI obtained search warrants from the court of a special judge, CBI, Mumbai, on 22.08.2025 and, in pursuance thereof, is conducting searches on Saturday at two locations in Mumbai, i.e., at the official premises of M/s Reliance Communication Ltd., and residential premises of Anil D Ambani.
The CBI has registered a case on charges of criminal conspiracy, cheating, criminal breach of trust, and criminal misconduct under the provisions of the Indian Penal Code and the Prevention of Corruption Act.
A spokesperson on behalf of Mr Anil D. Ambani said:
The search at Mr. Anil D. Ambani’s residence concluded early this afternoon. The complaint filed by State Bank of India (SBI) pertains to matters dating back more than 10 years. At the relevant time, Mr. Ambani was a Non-Executive Director of the company, with no involvement in the day-to-day management.
It is pertinent to note that SBI, by its own order, has already withdrawn proceedings against five other Non-Executive Directors. Despite this, Mr. Ambani has been selectively singled out.
At present, Reliance Communications is being managed under the supervision of a Committee of Creditors, led by SBI and overseen by a Resolution Professional. The matter remains sub judice, pending before the NCLT and other judicial forums, including the Hon’ble Supreme Court, for the past six years.
Mr. Ambani has duly challenged SBI’s declaration before the competent judicial forum. Mr. Ambani strongly denies all allegations and charges and will duly defend himself.
