Home / Crime and Justice / CBI Probes Anil Ambani for Over Rs 1085 Cr Fraud
CBI Probes Anil Ambani for Over Rs 1085 Cr Fraud
8 Mar
Summary
- CBI registered a case against Anil Ambani and Reliance Communications.
- The alleged bank fraud involves over Rs 1,085 crore loss to banks.
- PNB and United Bank of India were allegedly defrauded between 2013-2017.
The Central Bureau of Investigation (CBI) has initiated a case against industrialist Anil Ambani, Reliance Communications Limited, and former director Manjari Ashok Kacker. This action stems from an alleged bank fraud totaling over Rs 1,085 crore, based on a complaint filed by Punjab National Bank (PNB).
The accused are alleged to have defrauded PNB and the now-merged United Bank of India between 2013 and 2017. The total wrongful loss to these banks is estimated at approximately Rs 1,085.19 crore, with Rs 621.39 crore attributed to PNB and Rs 463.80 crore to United Bank of India.
Investigators suspect a criminal conspiracy where credit facilities were dishonestly induced, with loan funds subsequently diverted and misused. The loan accounts were classified as non-performing assets in 2017 and later declared fraudulent in February 2021 following a forensic audit.
The CBI has registered the case under sections of the Indian Penal Code related to criminal conspiracy and cheating, along with provisions of the Prevention of Corruption Act. The FIR also names unknown persons and public servants.
