CBI raids Anil Ambani’s Mumbai residences amid ₹3,073 crore SBI fraud probe

Mumbai’s former corporate scion, Anil Ambani, is now the focus of the Central Bureau of Investigation (CBI), as the agency raided multiple premises linked to him and his company, Reliance Communications (RCOM), on Aug 23 in connection with alleged bank fraud amounting to ₹3,073 crore.

The action follows a related probe by the Enforcement Directorate (ED) in a far larger money-laundering case.

The CBI’s FIR, registered on Aug 21, is based on a formal complaint filed by the State Bank of India (SBI). According to official records, SBI classified RCOM’s account and promoter — including Ambani — as “fraud” on June 13, 2025, involving irregular loan utilization, unapproved fund diversions, and financing violations. The bank filed the complaint after exhaustive internal review.

The scope of SBI’s exposure includes a fund-based principal of ₹2,227.64 crore, along with accrued interest since August 2016, and non-fund-based guarantees of ₹786.52 crore. The case concerns loans sanctioned through a complex network of inter-company transactions, sales invoice financing, and misrepresentation of debtors.

During the raids, CBI teams seized documents and digital records crucial to the probe. Investigators are examining whether funds were diverted across group entities, possibly resulting in substantial loss to SBI.

These CBI searches occur against the backdrop of simultaneous ED investigations, which are probing alleged money laundering and financial misconduct totaling ₹17,000 crore linked to multiple Reliance Group entities.

In early August, Ambani and his close executives were summoned for questioning. An LOC (Look Out Circular) has also been issued to prevent his foreign travel.

Reliance Communications has been under financial strain for years and has been undergoing insolvency resolution. The current investigations concern alleged quid-pro-quo loan agreements, non-performing assets, forged bank guarantees, and fund diversions — allegations under review by both ED and CBI across overlapping fraud and money-laundering cases.

As it stands, these coordinated enforcement actions by two premier investigative agencies reflect serious allegations of large-scale financial impropriety.

The outcome of ongoing forensic audits, legal proceedings, and judicial oversight will determine both the reputational consequences for the Reliance umbrella and broader implications for corporate accountability in India.