Anil Ambani Archives - National Times

21 Mar

CBI Examines Former Reliance ADA Group Executives in Rs 2,929 Crore Bank Fraud Case

Gurpreet Singh0 CommentsIndiaAnil Ambani, bank fraud, CBI probe, Gautam Doshi, RCOM, Reliance ADA Group, SBI complaint

New Delhi (Gurpreet Singh): The Central Bureau of Investigation (CBI) intensified its probe into the Reliance ADA Group on Saturday, March 21, 2026, by examining two former group managing directors, Gautam Doshi and Sateesh Seth. The questioning, which took place at the agency's headquarters in New Delhi, is part of an ongoing investigation into an alleged bank fraud amounting to ₹2,929.05 crore involving Reliance Communications Ltd (RCom) and its promoter, Anil Ambani. This follows the examination of another former managing director, Amitabh Jhunjhunwala, earlier this week on March 18. The case originates from a formal complaint filed by the State…

25 Feb

ED Attaches Anil Ambani’s ₹3,716 Crore Mumbai Residence ‘Abode’ in RCOM Loan Fraud Probe

Rajeev Sharma0 CommentsIndiaAnil Ambani, Enforcement Directorate, PMLA attachment, RCOM loan fraud, Reliance Communications

Mumbai, February 25, 2026: The Enforcement Directorate on Wednesday said it has provisionally attached the Mumbai residence of Reliance Group chairman Anil Ambani, ‘Abode’, valued at ₹3,716.83 crore under the Prevention of Money Laundering Act (PMLA).The action comes a day before the 66-year-old industrialist is scheduled to appear before the federal agency in Mumbai for a second round of questioning in connection with an alleged bank loan fraud case linked to Reliance Communications (RCOM).According to the agency, the 17-storey luxury residence, approximately 66 metres high, is located in Mumbai’s upscale Pali Hill area. The provisional attachment order has been issued…

24 Dec

Bombay High Court Stays Banks’ Move to Declare Anil Ambani, Reliance Communications as ‘Fraud’

Rajeev Sharma0 CommentsIndiaAnil Ambani, Bombay High Court, fraud declaration, Reliance Communications

Mumbai, December 24, 2025: The Bombay High Court on Wednesday stayed all present and future actions by three public sector banks seeking to declare the accounts of industrialist Anil Ambani and Reliance Communications Ltd as “fraud,” holding that the process violated mandatory norms laid down by the Reserve Bank of India. Justice Milind Jadhav ruled that the lenders had relied on a forensic audit report prepared by external auditor BDO LLP, which could not be acted upon as it was not signed by a duly qualified chartered accountant, a requirement under the RBI’s 2024 Master Directions on fraud. The court…

11 Oct

ED Arrests Reliance Power CFO in Rs 68 Crore Fake Bank Guarantee Case

Rajeev Sharma0 CommentsIndia, TrendingAnil Ambani, Reliance Power

New Delhi (Rajeev Sharma): The Enforcement Directorate (ED) has arrested Ashok Pal, Chief Financial Officer of Reliance Power, in connection with an ongoing investigation into a suspected money laundering case involving a bogus bank guarantee worth Rs 68.2 crore. The arrest took place on Friday night following a detailed questioning session. ED officials confirmed that Pal was taken into custody under provisions of the Prevention of Money Laundering Act (PMLA). He is expected to be produced before a special court on Saturday, where the agency will request his remand for further interrogation. The case concerns a bank guarantee allegedly submitted…

24 Aug

Anil Ambani, Reliance Communications Face Fresh Fraud Tag from Bank of India

Rajeev Sharma0 CommentsBusiness, IndiaAnil Ambani, Bank of India, CBI, loan fraud, Reliance Communications, State Bank of India

New Delhi, August 24 — Bank of India has classified Reliance Communications’ loan account as fraudulent, joining State Bank of India in raising allegations of fund diversion against the company and its former director Anil Ambani. The disclosure came through a stock exchange filing on Thursday.The bank said it sanctioned a ₹700 crore loan in August 2016 for capital expenditure, operational costs, and repayment of liabilities. However, nearly half of the funds were allegedly diverted into fixed deposits, a move outside the terms of sanction.Reliance Communications acknowledged receiving a letter from Bank of India dated August 8, informing that the…

23 Aug

CBI Files Bank Fraud Case Against Anil Ambani and Reliance Communications

Rajeev Sharma0 CommentsBusiness, IndiaAnil Ambani, bank fraud case, CBI, NCLT, Reliance Communications, SBI fraud

New Delhi: The Central Bureau of Investigation (CBI) has lodged a case against Reliance Communications (RCom) and its promoter-director Anil Ambani over an alleged bank fraud that caused losses of over Rs 2,000 crore to the State Bank of India (SBI).Officials confirmed that searches are underway at Ambani’s residence as well as premises linked to RCom. The case stems from a complaint filed by SBI, which classified the company’s account and its promoter as “fraud” in line with the Reserve Bank of India’s (RBI) directions on fraud risk management.According to the complaint, SBI’s total exposure includes a fund-based principal outstanding…

02 Aug

Anil Ambani Under ED Scanner in ₹3,000 Crore Loan Fraud Case; Lookout Circular Issued

Rajeev Sharma0 CommentsBusiness000 crore loan fraud, Anil Ambani, Enforcement Directorate, Lookout Circular, Yes Bank, ₹3

National Times Bureau, Aug 2, 2025: Reliance Group Chairman Anil Ambani is under heightened scrutiny after the Enforcement Directorate (ED) issued a Lookout Circular (LOC) against him in connection with a ₹3,000 crore bank loan fraud and money laundering probe. The LOC, which prevents individuals facing serious financial crime allegations from leaving the country, has been circulated to all immigration checkpoints.Ambani has been summoned by the ED for questioning on August 5. This development comes in the wake of a sweeping search operation on July 24, during which the agency raided over 50 companies and more than 25 individuals linked…

24 Jul

ED Raids Multiple Anil Ambani-Linked Locations Days After SBI Declares Him ‘Fraud’

Rajeev Sharma0 CommentsBusiness, India, TrendingAnil Ambani

Mumbai (National Times): In a significant move amid growing scrutiny over financial fraud, the Enforcement Directorate (ED) on Thursday launched massive search operations at 40–50 locations linked to Reliance Group MD Anil Ambani. The raids come just days after State Bank of India (SBI) officially declared Reliance Communications and its promoter-director Anil D Ambani as "fraudulent" entities. While Ambani’s personal residence was not searched, sources confirmed that ED teams from both Delhi and Mumbai raided premises associated with various companies under the Reliance Anil Dhirubhai Ambani Group (RAAGA). According to official statements shared with news agency ANI, the ED initiated…