Fresh Legal Trouble for Anil Ambani: CBI Registers a Case Against RCOM in ₹2,220 Crore Bank Fraud

The Central Bureau of Investigation lodged a fresh FIR on February 27, 2026, accusing Anil Ambani and Reliance Communications (RCOM) of fraud that caused the Bank of Baroda a loss exceeding ₹2,220 crore. 

CBI Registers New FIR 

The FIR claims that loans disbursed between 2013‑2017 were diverted through fictitious transactions with related parties. Searches were carried out at Anil Ambani’s residence and at RCOM’s registered offices, and documents linked to the loan agreements were recovered. 

Details of Alleged Fraud 

According to the complaint, RCOM, Reliance Infratel Ltd (RITL) and Reliance Telecom Ltd (RTL) together obtained ₹31,580 crore from banks. Of this, ₹6,265.85 crore was used to repay other banks, ₹5,501.56 crore went to related parties, and ₹3,674.85 crore was placed in fixed deposits and mutual funds before being liquidated for further payments. 

Read More: ED Attaches ₹3,716 Crore Mumbai Home of Anil Ambani Amid ₹40,000 Crore Loan Probe! 

Loan Amounts and Utilisation 

The Bank of Baroda classified the account as non‑performing from June 5, 2017. The FIR alleges that RITL raised ₹1,783.65 crore, which was routed through Reliance Communications Infrastructure Ltd to settle liabilities or transferred to related parties, contrary to sanction terms. 

Regulatory and Legal Actions 

The bank’s complaint led to the CBI case after a stay on the fraud declaration by the Bombay High Court was lifted on February 23, 2026.  

Conclusion 

The FIR outlines extensive alleged misappropriation of loan funds by RCOM and its promoters, resulting in a reported loss of ₹2,220 crore for the Bank of Baroda and prompting a criminal investigation by the CBI. 

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