Key Points
- CBI raids Anil Ambani’s residence in Mumbai after SBI fraud complaint worth ₹2,229.05 crore.
- Charges filed: Criminal conspiracy, fraud, and criminal breach of trust.
- Case dates back over 10 years; Reliance Communication now controlled by creditors.
- Ambani denies allegations, calls action “selective targeting.”
- Matter pending before NCLT and other courts for over six years.
Mumbai: The troubles for Reliance Communication (RCom) director Anil Ambani have deepened, with the Central Bureau of Investigation (CBI) conducting search operations at his Mumbai residence, Sea Wind in Cuffe Parade, on Saturday.
This came days after the State Bank of India (SBI) filed a complaint accusing RCom and its officials of alleged fraud involving ₹2,229.05 crore.
Based on the complaint, CBI registered a case under criminal conspiracy, fraud, and criminal breach of trust against:
- Reliance Communication,
- Anil Ambani,
- Several other individuals,
- And some unknown government officials allegedly involved in the matter.
CBI teams carried out raids on two locations RCom’s official campus and Ambani’s private residence.
Anil Ambani’s Response to the Raids
Following the raid, Anil Ambani’s spokesperson issued a statement clarifying his stance:
- The search at his residence ended by Saturday noon.
- The case relates to events more than a decade old, when Ambani was a non-executive director and was not involved in daily operations.
- The spokesperson emphasized that the action is “unwarranted and selective”, pointing out that SBI themselves had withdrawn action against five other non-executive directors in the same matter. “Anil Ambani strongly denies all allegations and will defend himself vigorously in court,” the statement read.
Reliance Communication Under Creditors’ Control
RCom has been financially distressed for years and is currently run by a committee of creditors led by SBI. The company has been under proceedings at the National Company Law Tribunal (NCLT) and other courts for nearly six years.
The company spokesperson argued that Ambani is being targeted unfairly, since operational control has long been out of his hands.
Case History and Legal Background
- In November 2020, SBI classified Anil Ambani and RCom’s account as “fraudulent.”
- A complaint was filed with CBI in January 2021.
- However, the Delhi High Court, in January 2021, ordered a “status quo”, following which the complaint was temporarily withdrawn.
- With the central probe agency now acting again, the matter has returned to the spotlight.
What Happens Next?
Legal experts say the case could proceed on two tracks simultaneously:
- NCLT proceedings for debt resolution of RCom.
- Criminal trial under CBI for fraud and conspiracy, if charges are upheld.
For Anil Ambani, already battling multiple financial setbacks, the case adds to mounting legal troubles and could bring further investigations into his failed telecom empire.
