CBI Raids Premises Linked to Anil Ambani in ₹2,000 Crore Bank Fraud Case

New Delhi — The Central Bureau of Investigation (CBI) on Saturday carried out raids at six locations in Mumbai linked to Reliance Communications (RCom) and its Promoter Director, Anil Ambani, in connection with an alleged ₹2,000 crore bank fraud case involving the State Bank of India (SBI), sources said.

According to investigators, the searches were aimed at collecting key documents and digital evidence to establish whether bank loans were diverted and funds misused. The agency has also registered a case against Reliance Communications for allegedly causing losses of over ₹2,000 crore to SBI.

On June 13, SBI classified RCom and  Ambani as “fraud” accounts, later reporting the matter to the Reserve Bank of India (RBI) on June 24. Under RBI guidelines, banks must report frauds within 21 days of detection and refer such cases to the CBI or police.

In its communication to RCom, SBI cited significant deviations in loan utilization, pointing to a complex web of fund movements across multiple group companies. The bank stated that responses to its Show Cause Notice failed to justify violations of loan terms or irregularities in account conduct.

Minister of State for Finance Pankaj Chaudhary recently informed the Lok Sabha that SBI’s exposure to RCom includes a fund-based principal outstanding of ₹2,227.64 crore, accrued interest and expenses since August 2016, and a non-fund-based Bank Guarantee of ₹786.52 crore.

The CBI’s action follows weeks after the Enforcement Directorate (ED) questioned Anil Ambani in a money laundering case tied to multiple loan frauds involving his companies. A preliminary probe revealed that loans worth ₹3,000 crore from Yes Bank (sanctioned between 2017 and 2019) were wrongfully diverted.

Officials also allege that Reliance Communications was involved in a much bigger fraud running into over ₹14,000 crore.