CBI registers fresh ₹2,220 crore fraud case against Anil Ambani:Case lodged on Bank of Baroda’s complaint, agency raids his home office

CBI has registered a new case of fraud against Anil Ambani and his company, Reliance Communications (RCOM). The investigating agency alleges that Anil Ambani and his company defrauded Bank of Baroda (BoB) of more than ₹2,220 crore between 2013 and 2017. After receiving a complaint from the bank, the CBI raided Anil Ambani’s house and Reliance Communications’ offices on Thursday, where several important documents related to loan transactions were recovered. Earlier, Anil Ambani had appeared before the ED today in another case. READ MORE | Anil Ambani appears before ED in ₹40,000 crore fraud case Accused of diverting money through fake transactions According to the CBI, an FIR has been registered based on a complaint from Bank of Baroda. It is alleged that RCOM took a loan from the bank, but instead of using the money for the intended purpose, it diverted the funds by showing fraudulent transactions to its other companies (related parties). The investigation revealed that due to this manipulation, Bank of Baroda incurred a loss of over ₹2,220 crore. Action after High Court Stay Lifted According to officials, Anil Ambani’s company’s account was declared NPA (Non-Performing Asset) in 2017 itself. However, Anil Ambani had filed a petition in the Bombay High Court, after which the court had stayed the declaration of this account as ‘fraud’. This stay was lifted on February 23, 2026. As soon as the stay was lifted, Bank of Baroda filed a complaint, and the CBI immediately took action by registering a case. Where’s the loan money? According to the complaint, Reliance Communications (RCOM), Reliance Infratel (RITL), and Reliance Telecom (RTL) had raised a total of ?31,580 crore from banks and financial institutions. Out of this: The bank states that this is a clear violation of the loan terms. The ₹1,783.65 crore raised by Reliance Infratel was also used by RCOM to repay its liabilities or transfer to associated companies. Investigation Revealed On June 5, 2017, this account was declared an NPA as the company failed to repay the loan. Subsequent investigation confirmed that funds had been misappropriated and all this was done with deliberate fraudulent intent. The FIR also states that Anil Ambani and his companies caused loss to the bank and embezzled money to benefit themselves under a well-thought-out criminal conspiracy. The case is different from SBI’s case SBI has already registered a case against RCOM based on a complaint from SBI, which is leading a consortium of 11 banks. However, Bank of Baroda was not part of that group. CBI clarified that this is a case of separate loans taken from Bank of Baroda, the then Vijaya Bank, and Dena Bank. READ MORE | Banks can declare Anil Ambani a fraud