Join our WhatsApp Group for Latest UpdatesFraud Case against Anil Ambani: India’s premier investigative agency, the Central Bureau of Investigation, has registered a First Information Report (FIR) against industrialist Anil Ambani in connection with an alleged ₹1,085 crore bank fraud case.
The case has been filed based on a complaint from Punjab National Bank, and it also names Reliance Communications, along with the company’s former director Manjari Ashok Kacker.
This website, Smart Update 24, provides you with all the details regarding the FIR was registered on March 5, marking a significant development in an investigation related to alleged financial irregularities involving bank loans.
The alleged loss includes Rs 621.39 crore to PNB and Rs 463.80 crore to United Bank of India.
What the CBI FIR Says
According to the complaint filed by the bank, the accused allegedly cheated financial institutions and caused a loss of about ₹1,085.19 crore.
The complaint was submitted by Santoshkrishna Annavarpu, Chief Manager of the Stressed Assets Management Branch of Punjab National Bank in Mumbai.
The alleged financial loss includes (Fraud Case against Anil Ambani):
| Bank | Amount |
| Punjab National Bank | ₹621.39 crore |
| United Bank of India (now merged with PNB) | ₹463.80 crore |
| Total Alleged Loss | ₹1,085.19 crore |
Investigators believe the financial irregularities occurred between 2013 and 2017.
Allegations of Loan Misuse:
The FIR claims that the accused entities allegedly entered into a criminal conspiracy to obtain credit facilities from banks.
According to investigators:
- Banks were persuaded to sanction loans to Reliance Communications.
- The loan funds were allegedly diverted or misused instead of being used for legitimate purposes.
- Financial discipline required under loan agreements was reportedly violated.
Due to these issues, the loan accounts were later classified as Non-Performing Assets (NPAs) in 2017.
Forensic Audit Findings:
Bank officials also informed investigators that the accounts were declared fraudulent in February 2021.
This decision followed the findings of a forensic audit conducted by BDO India LLP, which reportedly identified:
- Possible diversion of loan funds
- Transactions with related entities
- Irregular financial practices.
These findings reportedly formed the basis for the fraud classification.
Enforcement Directorate Investigation:
The development comes shortly after the Enforcement Directorate summoned Anil Ambani in connection with a money laundering probe.
Reports citing officials indicated that the agency conducted searches at several locations in Mumbai and Hyderabad linked to entities associated with Reliance Power.
However, the company later issued a statement clarifying that no searches were conducted at its offices or premises.
In a regulatory filing, Reliance Power stated that to its knowledge, the enforcement agency had not carried out raids at the company’s facilities.
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CBI Official Website: Link
