Anil Ambani Appears for Second Day of Questioning by CBI in SBI Cheating Case
CBI questions Anil Ambani for second day in Rs 2,929-crore SBI fraud case linked to Reliance Communications.
Industrialist Anil Ambani was questioned by the Central Bureau of Investigation (CBI) for over six hours on Friday in connection with a Rs 2,929-crore bank fraud case involving Reliance Communications Ltd (RCom). The case was registered on a complaint by the State Bank of India (SBI), alleging diversion and misappropriation of funds sanctioned to the company. This marks the second consecutive day Ambani appeared before the agency, arriving at the CBI headquarters around 10 a.m. and leaving by 5:15 p.m. in his grey sedan.
During the session, Ambani was questioned on alleged irregularities in the loan funds issued to RCom, including fund diversion and misappropriation, and was confronted with numerous documents relating to the matter. The CBI had previously booked him in August last year, charging him and the company with criminal conspiracy, cheating, and criminal breach of trust. According to the SBI complaint, RCom had an outstanding liability of over Rs 40,000 crore to various lenders, with the public sector bank alone facing a loss of Rs 2,929 crore based on 2018 figures.
On Thursday, Ambani’s spokesperson stated that his appearance was “in furtherance to Mr Ambani’s commitment to extend full cooperation in the matter with all agencies.” The industrialist was also questioned for nearly eight hours on the first day. Sources said that the CBI conducted searches at Ambani’s residence, ‘Sea Wind,’ in Mumbai’s Cuffe Parade area as part of the probe.
Also Read: Anil Ambani to Cooperate Fully With CBI in SBI Loan Fraud Investigation
The allegations revolve around claims that the accused, in criminal conspiracy, misrepresented financial information to secure credit facilities from SBI in favour of Reliance Communications. Ambani’s team has consistently denied any wrongdoing. His spokesperson reiterated that he “denies all allegations and charges, and will duly defend himself.” The complaint relates to events dating back more than a decade, and Ambani was reportedly a non-executive director at the time, with no involvement in day-to-day operations.
The matter has been sub-judice for several years, pending before the National Company Law Tribunal (NCLT) and other judicial forums, including the Supreme Court. Ambani has challenged the SBI’s declaration before the competent judicial authorities, maintaining that the issues are being dealt with through legal channels. The ongoing questioning by the CBI underscores the continued scrutiny faced by high-profile corporate cases in India.
Also Read: ED Raids Entities Connected To Anil Ambani, Reliance Power
