Reliance Communications

SC to hear Anil Ambani's plea against 'fraud' tag by banks next week

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

CBI files fresh case against Anil Ambani, RCom in ₹3,750 cr LIC fraud case

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

ED to file chargesheet in ₹40k cr loan 'fraud' involving ex-RCOM president

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 approaches SC seeking Sandesara-like debt settlement framework

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

RCom fraud case: CBI questions Anil Ambani in SBI's ₹2,929 crore loan fraud

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

RCom files review petition against SC decision on spectrum under IBC

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 Infra, Reliance Comms share prices hit 52-week lows; here's why

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)

CBI files fresh case against Anil Ambani, Reliance Communications

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

Anil Ambani appears before ED again in RCOM money laundering case

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

Every RBI fraud violation not open to court: HC on Anil Ambani case stay

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 tells Supreme Court he won't leave India without nod

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

Won't leave India without permission, will cooperate: Anil Ambani tells SC

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

ED to issue fresh summons to Tina Ambani in money laundering probe

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.

RCom fraud case: Supreme Court directs ED to constitute probe team

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

ED arrests ex-RCOM prez Punit Garg in alleged ₹40,000-cr bank fraud case

The Enforcement Directorate on Friday said it has arrested former Reliance Communications (RCOM) president Punit Garg on money laundering charges in an alleged Rs 40,000 crore worth bank loan fraud against group companies of businessman Anil Ambani. Garg was taken into custody on Thursday. A special Prevention of Money Laundering Act (PMLA) court in Delhi sent him to nine days of ED custody, the federal probe agency said in a statement. Garg, ex-president and director of Reliance Communications Limited (RCOM), was arrested in connection with an ongoing investigation linked to an alleged over Rs 40,000 crore bank fraud and money laundering by RCOM and its group entities, the ED said. There was no immediate comment from the Reliance Group on this development. The agency, on Wednesday, had said it had attached shares and mutual funds in the name of Garg's wife. "Garg, while holding senior managerial and directorial positions in RCOM over an extended period from 2001 to 2025, was acti

Supreme Court seeks status report from CBI, ED on probe into RCom group

The plea contends that the FIR registered by the CBI in August 2025, along with parallel ED proceedings, addresses only a limited portion of the alleged wrongdoing

HC stays action by 3 banks against Anil Ambani, Reliance Communications

The Bombay High Court on Wednesday stayed all present and future actions by three banks seeking to declare the accounts of Anil Ambani and his company Reliance Communications Ltd as 'fraud', noting that the provisions of the RBI's Master Directions were violated in the process. The action was based on a forensic audit report prepared by an external auditor, BDO LLP, noted Justice Milind Jadhav. But this report cannot be relied upon because it had not been signed by a duly qualified chartered accountant (CA) as required under the Reserve Bank of India's 2024 Master Directions on fraud, the judge said. If interim relief was not given to Ambani and Reliance Communications, it would cause "grave and irreparable harm / loss", said the order. "Principles of natural justice are based on the maxim 'justice should not only be done but should manifestly be seen to be done,' the HC said, adding that a forensic audit report prepared by an external auditor cannot be relied upon by the banks to

In the upcoming auctions, telcos seek spectrum locked in insolvency

In representations to the regulator, Bharti Airtel has noted that if included, the airwaves would enable telcos to use the spectrum more efficiently and may provide revenue to the exchequer

Anil Ambani Reliance group stocks slip up to 3% as ED attaches fresh assets

The attachment covers multiple properties linked to Reliance Communications (RCom) and other group entities, including buildings at Dhirubhai Ambani Knowledge City (DAKC) and Millennium Business Park

ED attaches ₹1,452 crore fresh assets linked to Anil Ambani Reliance group

The ED said RCom and its group companies availed loans from multiple domestic and overseas lenders between 2010 and 2012, with outstanding dues now at ₹40,185 crore and several accounts declared fraud