CBI books Anil Ambani in fresh Rs 2,200 crore Bank of Baroda loan fraud case, raids Mumbai residence

Mumbai: Troubles mounted for Reliance Group Chairman Anil Ambani as the Central Bureau of Investigation (CBI) registered a second case against Reliance Communications Ltd (RCOM) based on a complaint by the Bank of Baroda (BoB) concerning an alleged Rs 2,200 crore fraud and raided the businessman's Mumbai residence.

This development follows a series of actions by the Enforcement Directorate.

The CBI now initiating another criminal investigation based on a formal complaint from the bank for offences of conspiracy, cheating under IPC and criminal misconduct and abuse of official position under Prevention of Corruption Act, against Anil Ambani, Promoter erstwhile Chairman of RCoM, Reliance Communications and others.

“The allegations in the FIR are that Bank of Baroda suffered a loss of more than Rs 2,220 crores due to loans availed by Reliance Communication which were allegedly diverted and misused by creating fictitious transactions with related parties,” CBI officials said on Thursday.

Officials pointed out that RCOM's books of accounts were manipulated and irregularities concealed.

The account was declared a Non-Performing Asset in 2017 itself.

However, there was a stay on the declaration of the accounts based on the petition Anil Ambani filed before the Bombay High Court.

The stay was vacated on 23 February 2026 after which the Bank of Baroda lodged this complaint, and the CBI immediately took up the case.

It may be recalled that the CBI has already registered another case against M/s Reliance Communications based on a complaint lodged by the SBI which is the lead bank of a consortium consisting of 11 banks.

However, Bank of Baroda was not part of that consortium. This is a different loan availed by Reliance Communication Ltd from Bank of Baroda, the then Vijaya Bank and the then Dena Bank. Vijaya Bank and Dena Bank have now been merged with Bank of Baroda.

After registration of this case, CBI has conducted searches at the residence of Anil Ambani and the registered offices of Reliance Communication Ltd.

Various documents connected with this loan transactions have been recovered, the officials said.