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Anil Ambani
The CBI on Saturday conducted searches at 15 premises in Delhi and Mumbai in connection with cases registered against Reliance Commercial Finance Ltd. (RCFL) and Reliance Home Finance Ltd. (RHFL), officials said. The searches covered 23 interlinked entities associated with the Reliance ADA Group, led by Anil Ambani, the agency spokesperson said in a statement. These premises are located in two cities - Mumbai and Delhi. "The interlinked entities associated with the... group were allegedly used as conduit for the diversion of bank funds borrowed by RCFL and RHFL to other Reliance ADA Group companies, thereby causing wrongful loss to the lending banks," the spokesperson said. The searches were conducted after securing warrants from a special court in Mumbai. The searches also covered the "premises of three individuals, namely the former CFO of RHFL, the former Secretarial Head of the Reliance ADA Group, and the former Chief Treasury Consultant of RHFL," it said. The CBI has registe
The Enforcement Directorate (ED) on Saturday said it has issued a fresh order to attach assets worth Rs 1,021 crore as part of a money laundering investigation against the Reliance Anil Ambani Group. The provisional order, issued under the Prevention of Money Laundering Act (PMLA), attaches equity shares of Reliance Power held by Reliance Infrastructure and certain loan amount receivable from Sasan Power and Reliance Power, the agency said in a statement. The investigation stems from a CBI FIR against Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL). According to the ED, the probe found that public funds worth Rs 15,548 crore raised by RHFL and RCFL were "systematically diverted" through a web of "shell" (dummy) and group companies controlled and managed by the Reliance Anil Ambani Group. The ED is investigating multiple cases against the Group in connection with four FIRs filed under the anti-money laundering law, and three under provisions of th
Industrialist Anil Ambani has approached the appellate tribunal NCLAT, filing an appeal against the initiation of personal insolvency against him by the NCLT over the petition filed by public sector lender SBI. The Mumbai bench of the National Company Law Tribunal had on June 11, admitted a plea filed by the State Bank of India, seeking personal insolvency against Ambani over default of loans by his group firms - Reliance Communications (RCOM) and Reliance Infratel Ltd (RITL). He was the personal guarantor of the loans extended to his group firms. Ambani's petition came for a hearing before a two-member bench comprising Justice Mohd Faiz Alam Khan and Barun Mitra. However, it was adjourned following the request from his lawyer. "Having regard to the request made by Ld. Counsel for the appellant, list this matter on July 10, 2026, before the appropriate bench," said the NCLAT order dated June 24, 2026. SBI had moved an application under section 95 of the Insolvency & Bankruptcy ...
The Bombay High Court has granted interim protection from prosecution and penalty to industrialist Anil Ambani in an alleged tax evasion case, while admitting his petition challenging the constitutional validity of provisions of the Black Money Act. Ambani, in his plea, said certain provisions of the (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, were "ultra vires" (beyond the powers/violative) to the Constitution of India. A bench of Justices B P Colabawalla and Firdosh Pooniwalla on Tuesday noted that there are other petitions filed in HC against the Act and admitted Ambani's plea, which will be taken up for final hearing in due course. The court directed the Union government to file its affidavit in response to the plea. The HC noted that an assessment order against Ambani has already been passed and that he has filed an appeal before the Commissioner of Income Tax (Appeals). "The said appeal can proceed and orders can be passed thereon. However, we ..
Former Reliance Communications Group managing director Amitabh Jhunjhunwala, arrested by the CBI in a multi-crore bank loan fraud case, has been lodged in Mumbai's Arthur Road Jail, officials said on Tuesday. A Mumbai court on Monday allowed the Central Bureau of Investigation (CBI) to arrest Jhunjhunwala, who was in judicial custody in New Delhi in a related money laundering case being probed by the Enforcement Directorate (ED). Considering the late hour and the accused's travel from Delhi's Tihar Jail, the court remanded him to judicial custody, with a plea for his police custody scheduled for later in the day, officials said. Jhunjhunwala, group managing director of Anil Ambani-led Reliance Communications Group, looked after important functions such as corporate finance, banking and utilisation of funds. The CBI has claimed that based on his directions, loan funds received from banks were managed/utilised by other officials of the RCom group. Due to misutilisation of loan funds,
The Supreme Court on Thursday deferred to May 8 the hearing on a PIL alleging large-scale banking fraud involving the Anil Dhirubhai Ambani Group and its firms. A bench comprising Chief Justice Surya Kant and Justice Joymalya Bagchi was hearing the PIL filed by former bureaucrat E A S Sarma seeking a court-monitored investigation into alleged loan frauds exceeding Rs 40,000 crore by the Anil Dhirubhai Ambani Group (ADAG) firms led by Anil Ambani. At the outset, Solicitor General Tushar Mehta, appearing for the CBI and the Enforcement Directorate, said the two central probe agencies have filed fresh status reports in pursuance of directions issued on March 23 in the case. "The CBI and the ED have filed status reports. The kingpin has not been arrested. Anil Ambani was identified as the kingpin. But nothing has been done yet," lawyer Prashant Bhushan, appearing for the PIL petitioner, said. "I cannot respond as to why 'X' or 'Y' is not arrested. We have filed our status reports," the
The Enforcement Directorate has attached fresh assets worth Rs 3,034 crore as part of its ongoing money laundering probe against the Reliance Anil Ambani Group (RAAG) companies, sources said. The sources said the attached properties belong to Reliance Communications (RCOM) and Reliance Infrastructure Ltd. (R-Infra). These include a flat in Mumbai, a farmhouse in Khandala, a hill station in Maharashtra, some land parcels in Sanand (Ahmedabad) and 7.71 crore shares of R-Infra, among others. The central agency issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA) to attach these assets. According to sources, the total attachment of properties in the cases against the Reliance Anil Ambani Group now stands at Rs 19,344 crore. The Group is being investigated by the ED on charges of bank fraud and diversion of funds.
The Supreme Court on Thursday dismissed the pleas of industrialist Anil Ambani challenging the Bombay High Court order that allowed the proceedings initiated by banks against him and Reliance Communications Ltd to classify their bank accounts as fraud to continue. A bench of Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M Pancholi permitted Ambani to pursue his plea before the high court's single judge bench against the banks' show cause notices to declare the accounts as fraud. The bench requested the single judge bench to expeditiously decide Ambani's plea against the show cause notices issued by three banks. The apex court passed the order while hearing three separate pleas filed by Ambani who had challenged a February 23 order of a division bench of the high court. The division bench had quashed a single judge bench interim order that stayed proceedings initiated against him and Reliance Communications Ltd to classify their bank accounts as fraud. The divisio
The Central Bureau of Investigation (CBI) is probing bank loan frauds cumulatively worth Rs 73,000 crore in seven cases registered against the Reliance Anil Ambani Group, according to a status report filed in the Supreme Court in February. The CBI informed the court that it is actively investigating seven cases, and is probing the roles of certain public servants as well. After reviewing the status report filed by the CBI and its financial investigations counterpart, the Enforcement Directorate (ED), the apex court issued an order on March 23. "...the losses in the other cases also come to several thousands of crores, totalling claims of approximately Rs 73,006 crore," the apex court order said, referring to the CBI probe. A response from the Reliance Group to a query sent by PTI regarding this development is awaited. The ED told the court that it seized certain documents that speak about a purported "Project Help", indicating that insolvency proceedings were "deliberately" starte
The CBI on Thursday questioned industrialist Anil Ambani in connection with the alleged Rs 2,929 crore cheating case registered against Reliance Communications Ltd and him on a complaint by the State Bank of India, officials said. Ambani arrived at the agency headquarters this morning for questioning in the case. The agency has alleged fund diversion, misappropriation and other irregularities in the loan funds issued to the company by the bank, they said. The spokesperson for Anil Ambani said in a statement on Thursday that he will be appearing before the Central Bureau of Investigation (CBI) in Delhi on March 19 and 20 "for examination in connection with the FIR registered on the basis of a complaint filed by the State Bank of India". "The appearance is in furtherance to Mr Ambani's commitment to extend full cooperation in the matter with all agencies," the spokesperson said. The CBI had booked Ambani in August last year for allegedly defrauding the SBI to the tune of Rs 2,929.05
The CBI questioned Anil Ambani's son, Jai Anmol Ambani, for nearly five hours for a second consecutive day on Saturday in connection with an alleged Rs 228-crore fraud involving the Union Bank of India, officials said. Jai Anmol Ambani, the former director of Reliance Home Finance Limited (RHFL), was quizzed at the federal agency's headquarters here in connection with the bank-fraud case, in which he was booked along with RHFL's former CEO and whole-time director Ravindra Sudhakar, among others, they said. There was no immediate reaction from the company. The Central Bureau of Investigation (CBI) conducted searches at Jai Anmol Ambani's residence on December 9, 2025, after lodging an FIR against him and others. The CBI had acted on a complaint from the Union Bank of India (previously, the Andhra Bank), alleging that the company did not repay the credit availed from the bank, which turned the account into a non-performing asset (NPA) in 2019. The CBI registered a criminal case agai