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

Written by: Team Angel OneUpdated on: 27 Feb 2026, 5:19 pm IST

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.

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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Published on: Feb 27, 2026, 11:49 AM IST

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