Reliance Communications

A Delhi court on Saturday sent former Reliance Communications (RCom) senior executive Gautam Bhailal Doshi to five days of Enforcement Directorate custody in a money laundering case linked to alleged diversion of loan funds worth over Rs 40,000 crore. Special Judge Gaurav Rao was hearing the agency's plea seeking Doshi's custody for 14 days. Doshi was produced at the judge's residence at around 8:15 am after he was arrested and taken to Delhi from Bombay on transit remand. In its order, the court said, "Considering the submissions of ED, the nature of the allegations and to unearth the complete conspiracy as well as establish the complete fund trail, their recovery, role of other individuals involved, I deem it fit to grant 5 days' custody of the accused to the ED." The ED had sought 14 days' custodial interrogation of Doshi under provisions of the Prevention of Money Laundering Act (PMLA), contending that his custody was required to unearth the "complete conspiracy" behind the ...

The Mumbai bench of the NCLT admitted SBI's application seeking recovery of more than Rs 1,200 crore from Ambani under provisions of the Insolvency and Bankruptcy Code

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,

According to the CBI, the chargesheet has been filed against five senior executives of the company and 10 bank officials of the State Bank of India, Bank of Maharashtra and erstwhile Syndicate Bank

The Supreme Court refused to direct Anil Ambani's arrest in the RCOM fraud case, saying investigative agencies must decide on custodial action

Supreme Court of India dismisses Anil Ambani plea against fraud tag on bank accounts; allows banks to proceed while leaving settlement option open

Supreme Court to hear Anil Ambani's plea against fraud classification by banks over alleged ₹31,580 crore irregularities linked to ADAG entities

The CBI on Wednesday registered a fresh case against industrialist Anil Ambani and Reliance Communications Ltd for allegedly causing a loss of Rs 3,750 crore to Life Insurance Corporation (LIC) of India, officials said. The CBI has filed the case for the alleged offences of conspiracy, cheating and misappropriation and under the provisions of the Prevention of Corruption Act on a complaint from the LIC, making it the fourth case against the company and Anil Ambani, they said. The agency has alleged that LIC was fraudulently induced to subscribe to Non Convertible Debentures (NCDs) worth Rs. 4500 crore between 2009 and 2012 on the basis of false representations made by Reliance Communications Ltd. and its management regarding the financial health of the company, and security and asset cover offered to LIC while subscribing to the NCDs. The insurer suffered a loss of over Rs 3,750 crore and ordered a forensic audit against the company. The forensic audit report dated October 15, 2020

The Enforcement Directorate may on Friday file a chargesheet as part of its money laundering probe into an alleged Rs 40,000 crore loan fraud involving Reliance Group chairman Anil Ambani's group company RCOM and its past executives, official sources said. The prosecution complaint will be filed under the Prevention of Money Laundering Act (PMLA), and former Reliance Communications (RCOM) president Punit Garg and few others are expected to be named as accused, sources said. Garg, 61, was arrested by the ED in January. The former company president, while holding senior managerial and directorial positions in RCOM over an extended period from 2001 to 2025, was actively involved in the acquisition, possession, concealment, layering, and dissipation of proceeds of crime generated from the said bank fraud, the ED has claimed. The alleged laundered funds were "diverted" through multiple foreign subsidiaries and offshore entities of RCOM, it claimed. The agency had in December 2025 filed

Anil Ambani has approached the Supreme Court seeking debt resolution similar to the Sandesara case, even as the court pulled up agencies over probe delays

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

Reliance Communications' resolution professional has asked the Supreme Court to review its ruling that telecom spectrum cannot be treated as an asset under the Insolvency and Bankruptcy Code

Reliance Infrastructure declined as much as 4.5 per cent the 52-week low of ₹89.70 per share on the National Stock Exchange (NSE)

The CBI has registered a fresh case against industrialist Anil Ambani and Reliance Communications (RCOM) for allegedly cheating the Bank of Baroda during 2013-17 causing a wrongful loss of more than Rs 2,220 crore to the bank, officials said Thursday. The case stems from a complaint received from the bank on Tuesday, they said. "After registration of this case, the CBI has conducted searches at the residence of Anil Ambani and the registered offices of Reliance Communication Ltd. Various documents connected with this loan transactions have been recovered," a CBI spokesperson said in a statement. "The allegations in the FIR are that Bank of Baroda has suffered a loss of more than Rs 2,220 crore due to the loans availed by Reliance Communications which were allegedly diverted and misutilized by creating fictitious transactions with related parties," the spokesperson said. According to the officials, the account was declared a non-performing asset in 2017 itself. "However, based on t

Reliance Group chairman Anil Ambani on Thursday appeared before the Enforcement Directorate here for a second round of questioning in connection with an alleged bank fraud-linked money laundering case. The 66-year-old businessman entered the federal probe agency's office in central Delhi around 10.30 am. Officials in the agency said they will record his statement under the provisions of the Prevention of Money Laundering Act (PMLA). He was first questioned by the ED in August 2025. The probe pertains to an alleged over Rs 40,000 crore worth bank fraud by his group company, Reliance Communications (RCOM). Ambani and his multiple group companies are facing allegations of loan fraud, and the ED recently constituted a special investigation team (SIT) to probe all these instances. The SIT was formed on the recent directions of the Supreme Court. The ED on Wednesday attached Ambani's Mumbai house, 'Abode', worth Rs 3,716 crore under the anti-money laundering law. According to informati

The RBI's Master Directions aim to identify frauds and unscrupulous borrowers for timely action, and every violation of the same is not subject to judicial scrutiny, the Bombay High Court has said while lifting the stay on action by three banks to classify industrialist Anil Ambani's accounts as fraud. A bench of Chief Justice Shree Chandrashekhar and Justice Gautam Ankhad on Monday quashed a single bench order of December 2025, which stayed the action initiated by three public sector banks based on the Master Directions issued by the RBI to classify Ambani's and Reliance Communications Ltd's bank accounts as fraud. The court allowed appeals filed by the three public sector banks and the auditor firm BDO India LLP against the December 2025 interim order passed by a single bench of the HC. The division bench held the single bench order as "perverse and illegal" and in breach of natural justice and said it suffers from "procedural irregularity and impropriety". The court in its ...

Anil Ambani submits an affidavit to the Supreme Court stating he will not travel abroad without permission and will continue cooperating with ED and CBI in the RCOM fraud investigations

The Enforcement Directorate has issued fresh summons to Reliance Group chairman Anil Ambani to appear for questioning on February 26 after he skipped deposition this week, official sources said on Thursday. His wife, former actor Tina Ambani, has also sought adjournment twice and not deposed before the ED on her scheduled dates for February 10 and February 17. It was not clear if she too has been given a fresh date by the ED. The ED has called the couple to record their separate statements under the Prevention of Money Laundering Act (PMLA), ED officials had said. Anil Ambani once appeared before the ED in August 2025. It is understood that Tina Ambani has been called for questioning with regard to a money trail linked to the purchase of a luxury condominium in New York's Manhattan. The ED recently arrested former RCOM (Reliance Communication) president Punit Garg in the case. The New York property was "fraudulently" sold in 2023 during the corporate insolvency resolution proces

The Enforcement Directorate will soon issue fresh summons to Tina Ambani, wife of Reliance Group chairman Anil Ambani, for questioning in a money laundering case, officials said on Tuesday. Tina, 68, a former actor, was asked to depose by the federal agency here on Monday but she did not do so. She will be called again soon, the officials said. It is understood that she was called for questioning with regard to a money trail linked to the purchase of a luxury condominium in New York's Manhattan. The ED had recently attested former RCOM (Reliance Communication) president Punit Garg in this case. The agency has recently constituted a SIT to probe multiple cases of alleged bank fraud and linked financial irregularities against the Anil Dhirubhai Ambani Group (ADAG) on the directions of the Supreme Court.

The Supreme Court asked the Enforcement Directorate to set up a senior-level SIT to take forward the probe into alleged large-scale bank fraud involving RCOM and Anil Ambani