The Central Bureau of Investigation conducted searches at the residence of Anil Ambani and the registered offices of Reliance Communications in connection with an alleged loan fraud exceeding Rs 2,220 crore.
The probe follows a complaint filed by Bank of Baroda on February 24, 2026, leading to the registration of a second case against Reliance Communications. The CBI has cited offences of conspiracy and cheating under the IPC, as well as criminal misconduct and abuse of official position under the Prevention of Corruption Act.
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The allegations claim that loans availed by Reliance Communications were diverted and misused through fictitious transactions involving related parties, resulting in significant losses for the bank. Investigators further allege manipulation of the company’s accounts to conceal irregularities. Notably, the account had been declared a non-performing asset in 2017.
