CBI raids Anil Ambani Linked Premises in ₹2,000 Crore Bank Fraud Case
CBI has registered an FIR and raided premises linked to Anil Ambani in a Rs. 2,000 crore bank fraud case involving Reliance Communications
The Central Bureau of Investigation (CBI) has registered an FIR and carried out raids at places connected to industrialist Anil Ambani and his company Reliance Communications (RCOM). The action is linked to an alleged bank fraud that caused a loss of around Rs. 2,000 crore to the State Bank of India (SBI).
According to The Times of India, this comes soon after the Enforcement Directorate (ED) questioned Ambani for nearly 10 hours on August 5 in a money laundering probe. That investigation is connected to multiple bank loan fraud cases involving more than Rs. 17,000 crore.
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According to officials, investigators believe there were irregularities in loans granted by Yes Bank. They also suspect that part of the loan money may have been diverted through shell companies instead of being used for genuine business purposes.
Sources said Anil Ambani had sought 10 days’ time to submit documents, but investigators were not satisfied with the response, which led to the CBI filing the FIR and launching searches.
The case is still under investigation. More details about the findings of the raids and the future course of action are expected in the coming days.
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