CBI intensifies probe into Anil Ambani Group fraud cases, summons top executives in Delhi

New Delhi: The Central Bureau of Investigation (CBI) has ramped up its investigation into major alleged bank fraud cases linked to the Reliance Anil Dhirubhai Ambani Group (ADA Group), summoning top executives for detailed questioning at its headquarters in New Delhi, a CBI statement said on Saturday.

This comes amid ongoing scrutiny over massive alleged financial irregularities involving loans from public sector banks, with total losses to banks and financial institutions estimated at around Rs 9,280 crore, including Rs 4,097 crore to public sector banks.

In the high-profile case involving “Reliance Communications Limited (RCom)”, the CBI had registered an FIR on August 21, 2025, based on a complaint from the State Bank of India (SBI).

The allegations centre on a fraud of Rs 2,929.05 crore, accusing RCom, industrialist Anil Ambani, and others — including unknown public servants — of criminal conspiracy, cheating, and breach of trust.

The probe alleges diversion and misutilisation of loan funds through circuitous transactions between 2013-17, causing wrongful loss to SBI from its total exposure of more than Rs 19,000 crore in a consortium of banks, the investigation agency said.

On March 21, 2026, two Group Managing Directors of the Reliance ADA Group — Gautam Doshi and Sateesh Seth — appeared before the CBI Investigating Officer and were examined throughout the day.

Earlier, another Group Managing Director, Amitabh Jhunjhunwala, was questioned on March 18, 2026.

These summons follow recent intense grilling of Anil Ambani himself over two consecutive days (March 19 to 20) for nearly eight hours each, highlighting the central agency’s focus on key decision-makers in the group.

Separately, in the “Reliance Commercial Finance Limited” case, the CBI registered an FIR on December 6, 2025, on a complaint from the Bank of Maharashtra, alleging a fraud of Rs 57.47 crore.

The accused include Reliance Commercial Finance Limited, Devang Pravin Mody, Ravindra Somayajula Rao, and others, including unknown public servants.

On Saturday, “Sanjay Dangi, an Advisor at Authum Investment and Infrastructure Limited” — which has acquired the assets of Reliance Commercial Finance Limited and Reliance Home Finance Limited (both under probe) — appeared and was examined throughout the day.

IANS