Representational picture of Reliance Communications Promoter Director Anil Ambani | Photo Credit: Reuters
The company is finishing up searches on the residence of Anil Ambani and premises linked to RCOM in reference to the case, they mentioned.
The CBI took the motion primarily based on a grievance from the lender State Bank of India, which had approached the company after the entities have been categorized as fraud on June 13, in accordance with the RBI’s Master Directions on Fraud Risk Management and the Bank’s Board-approved Policy on Classification, Reporting & Management of Frauds.
“On June 24, 2025, the financial institution reported classification of fraud to RBI, and can be within the technique of lodging grievance with CBI,” Minister of State for Finance Pankaj Chaudhary had mentioned in a written reply within the Lok Sabha final month.
The credit score publicity of SBI in RCom features a fund-based principal excellent quantity of ₹2,227.64 crore together with the accrued curiosity and bills with impact from August 26, 2016, and a non-fund-based Bank Guarantee of ₹786.52 crore, he had mentioned.
RCom is present process the Corporate Insolvency Resolution Process underneath the Insolvency and Bankruptcy Code, 2016.
The decision plan was permitted by the Committee of Creditors and filed with the National Company Law Tribunal (NCLT), Mumbai, on March 6, 2020.
The NCLT approval is awaited.
The financial institution has additionally initiated a Personal Insolvency Resolution Process underneath IBC in opposition to Anil D. Ambani, and it’s being heard by NCLT, Mumbai, he had mentioned.
The SBI had categorized the account and promoter Anil D. Ambani as ‘fraud’ on November 10, 2020 and filed a grievance with the CBI on January 5, 2021.
However, the Minister mentioned, the grievance was returned in view of the ‘established order’ order dated January 6, 2021, by the Delhi High Court.
Meanwhile, a Supreme Court judgement dated March 27, 2023, in State Bank of India & Others Vs Rajesh Agarwal & Others case mandated that lenders present debtors with a chance to signify earlier than classifying their accounts as fraud.
Accordingly, the Minister mentioned, the fraud classification within the account was reversed by the financial institution on September 2, 2023.
The fraud classification course of was re-run, and the account was once more categorized as ‘fraud’ after following the due course of as per the RBI round dated July 15, 2024.
Published – August 23, 2025 12:01 pm IST
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