CBI Raids Anil Ambani's Premises in ₹2,000 Crore Bank Fraud Case

23 August, 2025

The CBI has filed a case against Reliance Communications (RCOM) and its promoter Anil Ambani for an alleged bank fraud causing over ₹2,000 crore in losses to the State Bank of India. The agency conducted searches at six locations in Mumbai linked to Ambani and RCOM. The action follows SBI classifying the RCom account as "fraud" in June, alleging deviation in the utilisation of loans and complex fund movements. The probe aims to gather evidence on the misuse of bank funds.

Unpacked:

What specific actions has the CBI taken so far in its investigation of the alleged fraud?

The CBI has registered an FIR against Reliance Communications and Anil Ambani, and conducted searches at six locations in Mumbai linked to them. Officials arrived at Ambani’s residence for a day-long search, focusing on gathering evidence of fund misuse and irregularities in loan utilization.

How did the alleged bank fraud involving Reliance Communications come to light?

The State Bank of India classified Reliance Communications and Anil Ambani as “fraud” in June 2025 under RBI guidelines, after detecting deviations in loan usage and complex fund movements. SBI then reported the matter to the RBI and prepared a complaint for the CBI.

Are other companies or individuals linked to Anil Ambani being investigated for similar allegations?

Yes, the investigation is expanding to other Reliance ADA Group firms and related parties. The Enforcement Directorate has also questioned senior Reliance Group officials and is looking into transactions involving multiple companies and individuals associated with Anil Ambani.

What is the broader financial impact or significance of the alleged fraud beyond the ₹2,000 crore SBI loss?

While the SBI loss is over ₹2,000 crore, the broader probe involves alleged irregularities totaling up to ₹17,000 crore in loans across several banks and Reliance ADA Group companies, potentially affecting multiple financial institutions and public stakeholders.