Anil Ambani Questioned Over Alleged Rs 2929 Crore Bank Fraud

Anil Ambani appeared at CBI's Delhi headquarters as part of an investigation into a Rs 2929 crore bank fraud involving Reliance Communications Ltd. The alleged fraud, reported by SBI, involves diversion of funds between 2013 and 2017. Multiple banks have filed complaints, prompting a series of CBI searches and inquiries.

Industrialist Anil Ambani returned to the Central Bureau of Investigation (CBI) headquarters on Friday for a second day of questioning in a high-profile bank fraud case involving Rs 2929.05 crore linked to Reliance Communications Ltd. An FIR was filed following a complaint by the State Bank of India (SBI).

Ambani's first appearance before the Investigating Officer was on Thursday, where he underwent eight hours of interrogation. The criminal proceedings center upon allegations against Reliance Communications Limited and Anil D Ambani, in addition to several unidentified individuals and potential public servants. The complaint originated from SBI, the principal bank in a consortium of 11 banks including Bank of India, Central Bank of India, and others.

The case hinges on a forensic audit report revealing alleged misuse of loan funds through complex transactions among related entities from 2013 to 2017. This purportedly caused a wrongful loss of Rs 2929.05 crore to SBI out of a larger debt exposure involving 17 public sector banks. The CBI subsequently registered the case after reports from other banks like Punjab National Bank and Bank of Maharashtra also surfaced, detailing further misconduct and financial irregularities linked to Reliance Communications. CBI orchestrated raids on August 23, securing several incriminating documents from official and personal premises in Mumbai.

(With inputs from agencies.)