CBI book Anil Ambanis RCom for bank fraud of over Rs 2,000-crore, raids at premises underway
According to officials, the accounts were classified as fraudulent on June 13 under the RBI’s Master Directions on Fraud Risk Management and the bank’s policy on classification, reporting, and management of frauds, as disclosed by Minister of State for Finance Pankaj Chaudhary in a written reply in the Lok Sabha last month.
PTC News Desk: The CBI has registered a case against Reliance Communications (RCOM) and carried out searches at its premises on Saturday in connection with an alleged bank fraud that reportedly caused a loss of over ₹2,000 crore to the State Bank of India, officials said. Searches were also conducted at locations linked to RCOM’s Promoter Director, Anil Ambani.
According to officials, the accounts were classified as fraudulent on June 13 under the RBI’s Master Directions on Fraud Risk Management and the bank’s policy on classification, reporting, and management of frauds, as disclosed by Minister of State for Finance Pankaj Chaudhary in a written reply in the Lok Sabha last month.
This development follows weeks after the Enforcement Directorate (ED) questioned Anil Ambani for nearly 10 hours on August 5 in a parallel money laundering investigation related to loans taken by his group companies—Reliance Home Finance Ltd (RHFL), Reliance Commercial Finance Ltd (RCFL), and RCom. Ambani, who arrived at the ED office in Delhi around 10:50 a.m., left close to 9 p.m. The questioning was part of a probe under the Prevention of Money Laundering Act (PMLA).
As per ED data, RHFL owes over ₹5,901 crore, RCFL more than ₹8,226 crore, and RCom nearly ₹4,105 crore to a consortium of around 20 public and private sector banks, including State Bank of India, Yes Bank, ICICI Bank, HDFC Bank, Axis Bank, Bank of India, UCO Bank, and Punjab & Sind Bank.