CBI Registers Fresh Case Against Reliance Communications, Anil Ambani

CBI books Reliance Communications and Anil Ambani in fresh ₹2,220 crore bank loan fraud case.

Mumbai: The Central Bureau of Investigation (CBI) has registered a second case against Reliance Communications and its promoter Anil Ambani, following a complaint filed by Bank of Baroda on February 24, 2026.

According to officials, the case has been filed under charges of criminal conspiracy and cheating under the IPC, along with allegations of criminal misconduct and abuse of official position under the Prevention of Corruption Act.

The FIR states that Bank of Baroda suffered a loss of over ₹2,220 crore due to loans taken by Reliance Communications. The agency alleges that the loan funds were diverted and misused through fake transactions with related parties. It is also claimed that the company’s books of accounts were manipulated to hide irregularities.

The loan account was classified as a Non-Performing Asset (NPA) in 2017. However, the declaration of the account as “fraud” was stayed after Anil Ambani approached the Bombay High Court. The court vacated the stay on February 23, 2026, after which Bank of Baroda filed its complaint and the CBI registered the case.

Earlier, the CBI had already filed another case against Reliance Communications based on a complaint by the State Bank of India, which was the lead bank of a consortium of 11 lenders. However, Bank of Baroda was not part of that consortium. This new case relates to a separate loan taken from Bank of Baroda, the former Vijaya Bank, and Dena Bank — both of which have since merged with Bank of Baroda.

Following the registration of the case, CBI officials conducted searches at Anil Ambani’s residence and at the registered offices of Reliance Communications. Several documents related to the loan transactions were reportedly seized.

The investigation is currently ongoing.