Anil Ambani Faces CBI Raids Amid ₹17K-Cr Bank Fraud Probe

Anil Ambani's Companies Face CBI Scrutiny in ₹17,000-Cr Bank Fraud Probe

In a significant escalation of a multi-agency investigation, the Central Bureau of Investigation (CBI) on Saturday, August 23, 2025, registered a First Information Report (FIR) and launched extensive raids on premises linked to industrialist Anil Ambani and his companies. The action is part of a probe into an alleged bank loan fraud that has reportedly caused a loss of over ₹2,000 crore to the State Bank of India (SBI). The CBI's move comes weeks after the Enforcement Directorate (ED) questioned Ambani for nearly ten hours in a parallel money laundering investigation concerning loans worth over ₹17,000 crore.

The raids, which began early this morning at Ambani’s residence and other properties connected to his company, Reliance Communications (RCom), in Mumbai, signify a new phase in the government's pursuit of accountability in major corporate loan defaults. This development follows a series of regulatory and investigative actions, including the classification of several of Ambani's loan accounts as fraudulent by multiple banks.

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The Genesis of the ₹17,000 Crore Probe

The investigation has its roots in a broader inquiry into financial irregularities involving several of the Anil Ambani-led Reliance Group companies. The Enforcement Directorate (ED) has been spearheading a probe under the Prevention of Money Laundering Act (PMLA) for several weeks, with its focus on three primary group entities: Reliance Home Finance Ltd (RHFL), Reliance Commercial Finance Ltd (RCFL), and RCom.

According to data cited by the ED, the total outstanding loans owed by these companies to a consortium of around 20 public and private sector banks amount to a staggering sum:

• Reliance Home Finance Ltd (RHFL): Over ₹5,901 crore
• Reliance Commercial Finance Ltd (RCFL): More than ₹8,226 crore
• Reliance Communications (RCom): Nearly ₹4,105 crore

The ED's investigation has revolved around allegations of money laundering and the alleged diversion of these funds through a network of shell companies. The agency has been scrutinizing the role of senior company executives and the lenders who sanctioned the loans. Earlier this month, the ED questioned Anil Ambani for several hours, seeking details about the loan transactions and financial dealings of his companies. The agency has also questioned several other senior executives of the Reliance Group, including former chief financial officers and confidants of Ambani.

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The CBI's Role: A Separate but Parallel Investigation

While the ED's probe focuses on the money laundering aspect, the CBI’s action is centered on the alleged bank fraud itself. The CBI’s FIR and subsequent raids were prompted by a formal complaint from the State Bank of India.

• The SBI Complaint: According to a written reply given by Minister of State for Finance Pankaj Chaudhary in the Lok Sabha, SBI had classified the loan accounts of RCom as "fraud" on June 13, 2025. This classification was done in accordance with the Reserve Bank of India’s (RBI) Master Directions on Fraud Risk Management and the bank's own internal policies. The bank had also reported the fraud to the RBI on June 24, and was in the process of lodging a complaint with the CBI, which has now been formally registered.

• Focus of the CBI Probe: The CBI is investigating the alleged fraud that resulted in a loss of over ₹2,000 crore to SBI. Sources indicate that the agency is looking into the alleged diversion of funds and any potential criminal conspiracy to defraud the banks. The CBI's action today, which included searches at Ambani's residence, signals a serious intent to gather evidence and pursue the case against the company's promoter and other linked individuals.

This is not the first time SBI has classified these accounts as fraudulent. The bank had previously done so in 2020 and filed a complaint with the CBI in 2021, but a Delhi High Court order for a status quo had put the investigation on hold. After a 2023 Supreme Court ruling mandated that banks must hear borrowers before classifying their accounts as fraud, the bank had re-evaluated its stance. The current action suggests that the legal groundwork has been laid for a new, comprehensive investigation.

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The Corporate and Public Response

The news of the raids has sent ripples through the financial world and has been a major talking point in corporate circles. The Anil Ambani-led Reliance Group, which has seen several of its companies face insolvency proceedings, has consistently maintained that its businesses have been victims of a wider conspiracy and have acted in good faith. However, the consistent probes by top investigative agencies, including the ED and now the CBI, have kept the focus squarely on the financial dealings of the group.

The ongoing investigation also puts a spotlight on the lending practices of the consortium of banks involved. The ED's inquiry is also examining whether there were any lapses or irregularities on the part of the lenders in the sanctioning and monitoring of these massive loans. The nexus between borrowers and lenders, especially in cases of large corporate defaults, has been a key area of focus for investigative agencies in recent years.

The timing of the CBI's action, coming just weeks after the ED's detailed questioning of Ambani, highlights a coordinated and persistent effort by multiple government agencies to get to the bottom of the alleged financial irregularities. While Anil Ambani and the Reliance Group have yet to release an official statement on the CBI raids, the situation remains highly fluid, with more details expected to emerge as the investigation progresses.

Conclusion

The CBI raids on the premises of Anil Ambani and RCom represent a major and significant development in the high-stakes bank fraud investigation. It marks a new and more aggressive phase of scrutiny, following the detailed probes by the ED. The case, involving an alleged loss of over ₹17,000 crore to a large consortium of banks, is a litmus test for corporate accountability and the ability of India's investigative agencies to hold even the most powerful individuals and entities to account. As the investigation deepens, the financial world and the public will be watching closely to see how this complex and high-profile case unfolds