Anil Ambani: Veteran businessman Anil Ambani has moved the Supreme Court in the case of alleged bank fraud and money laundering of more than Rs 40,000 crore involving Reliance Communication (RCom) and other group companies. He has offered a phased payment plan before the court to repay the outstanding loans of the banks. He has also given a proposal to form a ‘committee of creditors’ to resume negotiations with the banks.

‘I am not a fugitive’

During the hearing in the court, Anil Ambani also mentioned a letter written to the Finance Minister, in which he had demanded that his case be resolved on the lines of the Sandesara brothers (Sterling Biotech). In this case, the criminal proceedings against Sterling Group’s Nitin Sandesara and Chetan Sandesara and five other members of his family were dropped on depositing a certain amount.

Describing himself as different from the Sandesara brothers, Anil Ambani told the court that he is not a fugitive economic offender and is cooperating in the investigation, hence he should also get an equal opportunity to repay the loan. Meanwhile, in his affidavit, Ambani claimed that he has paid more than Rs 3.44 lakh crore so far, out of which the principal amount of Rs 2.45 lakh crore is also included.

What was the matter with Sandesara brothers?

In November 2025, the Supreme Court had allowed all criminal cases against the declared fugitive Sandesara brothers to be dropped, provided they pay one-third of the total dues of about Rs 5100 crore. Anil Ambani has also demanded a similar ‘structured settlement’.

Court reprimands investigating agencies

The Supreme Court has reprimanded the central investigating agencies CBI and ED for investigating the case. The court expressed displeasure over the delay in investigation of alleged bank fraud and money laundering case of more than Rs 40,000 crore and said that in cases like Sandesara, when the agencies were ready for settlement, then why is the investigation so slow in Ambani’s case?

Let us tell you that the Supreme Court has also directed the Enforcement Directorate (ED) to constitute a Special Investigation Team (SIT) to investigate this case. The court said that the investigating agencies should complete the investigation of this alleged fraud in a timely manner and with transparency so that public confidence is maintained.

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Anil Ambani: The Central Bureau of Investigation (CBI) has registered another case against industrialist Anil Ambani and his company Reliance Communications Limited (RCom) in Mumbai. The Central Investigation Agency has taken this step after the complaint of Punjab National Bank (PNB). On March 5, PNB has accused Anil Ambani, RCom and a former director of the company of fraud of more than Rs 1085 crore.

What did the bank say in the complaint?

According to the complaint, the alleged fraud caused a combined loss of approximately Rs 1085.19 crore to PNB and United Bank of India (now merged into PNB). This FIR has been registered on the basis of the complaint of Santoshkrishna Annavarapu, Chief Manager of Stressed Assets Management Branch of PNB in ​​Mumbai.

According to the complaint, the accused allegedly conspired to obtain a credit facility for Reliance Communications and later diverted or misappropriated the loan money. Ambani, Reliance Communications Limited and its former director Manjari Ashok Kakkar have been made accused in this case.

Big revelation made in investigation

PNB alleged that between 2013 and 2017, the accused knowingly hatched a criminal conspiracy to defraud the bank and wrongfully obtain credit facilities. The loan was not used for the purpose for which it was taken. These were used for companies linked to them and for fake transactions.

The investigation also revealed that the accounts books of the company were manipulated to mislead the bank and hide the irregularities. PNB said that the forensic audit conducted by BDO India LLP revealed misuse of funds and violation of rules. After this, in February 2021, the bank declared these accounts as ‘fraud’. Recently, on the complaint of Bank of Baroda, CBI had also registered a case of fraud of Rs 2220 crore against Anil Ambani and his associated companies.

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