CBI files 2nd case against RCoM & Anil Ambani for alleged loan fraud

NEW DELHI/MUMBAI: The Central Bureau of Investigation (CBI) has registered a second case against Reliance Communications (RCoM) and its promoter Anil Ambani, along with others, on a complaint filed by Bank of Baroda on Tuesday.

The complaint is that loans taken by RCoM have resulted in losses of over Rs 2,220 crore to the company, with the money being diverted to group companies through fraudulent transactions.

The company is also accused of misrepresenting its financial statements to cover up these irregularities.

The loan in question was declared a Non-Performing Asset in 2017, but a stay on the fraud charge was granted by the Bombay High Court after Anil Ambani challenged it. However, the stay was vacated on February 23, 2026, and this led to Bank of Baroda filing the complaint against RCoM, which resulted in the CBI registering the case.

This is the second case filed by the CBI against Reliance Communications.

The first case was filed on a complaint by the State Bank of India, which was part of the 11-bank consortium. Bank of Baroda was not a part of it.

The new case is based on loans taken from Bank of Baroda, Vijaya Bank, and Dena Bank (which is now a merged entity).

After the case was registered, the Central Bureau of Investigation searched the residence of Anil Ambani and the registered offices of Reliance Communications.

Some documents related to the loan were seized, and the investigation is on.