The search by CBI at the residence of industrialist Anil D. Ambani wrapped up early this afternoon. A spokesperson for Ambani stated on Saturday that the complaint filed by the State Bank of India (SBI) involves issues that go back more than 10 years. The bank’s declaration is currently being challenged in a court.
Anil Ambani denies all allegations and charges, and he plans to defend himself. The spokesperson noted that SBI has already dropped proceedings against five other Non-Executive Directors. “Mr. Ambani has been unfairly singled out,” the spokesperson said.
Currently, Reliance Communications is being managed by a Committee of Creditors led by SBI and overseen by a Resolution Professional. This matter has been in court for the past six years, pending before the NCLT and other judicial bodies, including the Supreme Court, according to the spokesperson.
“Mr. Ambani has formally challenged SBI’s declaration in court. He strongly denies all allegations and charges, and he will defend himself,” the spokesperson added.
Earlier, CBI released a statement saying they registered a criminal case based on a complaint from SBI, Mumbai, against Reliance Communication Ltd. (RCOM), its Director Anil D. Ambani, unknown public servants, and others. The case involves accusations of defrauding the bank and causing a wrongful loss of Rs 2,929.05 crore.
This case was registered on August 21, according to the press note.
The accusations claim that the suspects engaged in criminal conspiracy, misrepresented facts, and obtained credit facilities from SBI for Reliance Communication Ltd. The allegations involve misuse or diversion of loan funds, potential movement of loan funds, inter-company loan transactions, misuse of sales invoice financing, discounting of bills of RCOM by Reliance Infratel Ltd., transferring funds through inter-corporate deposits, writing off capital advances given to Netizen Engineering Pvt. Ltd., a group company of Reliance ADA Group, and creating or writing off fictitious debtors.
The alleged offences include criminal conspiracy, cheating, and criminal breach of trust. CBI received search warrants from the Special Judge’s Court in Mumbai on August 22, 2025, and conducted searches at two locations in Mumbai: the official premises of Reliance Communication Ltd. and Anil D. Ambani’s residence.
