Overview

• The CBI registered an FIR on August 21 after receiving SBI’s complaint on August 18, obtained search warrants on August 22, and searched Anil Ambani’s Cuffe Parade residence and RCom premises in Mumbai on August 23.
• SBI alleges a wrongful loss of Rs 2,929.05 crore, citing a 2020 forensic audit that flagged diversion and misutilisation through inter‑company loans, misuse of invoice financing, discounting of RCom bills by Reliance Infratel, inter‑corporate deposits, and write‑offs linked to Netizen Engineering.
• SBI reclassified RCom and Anil Ambani as fraud on June 13, 2025 under RBI guidance and reported the fraud to the central bank on June 24, which requires lenders to refer such cases for criminal action.
• Bank of India’s August 8 letter, disclosed on August 22, tags RCom and the former director as fraud over a Rs 700 crore facility, citing placement of disbursed funds in a fixed deposit against sanction terms and an outstanding Rs 724.78 crore NPA since June 2017.
• Ambani denies wrongdoing, says he served only as a non‑executive director during the period in question and will challenge the actions, as the ED continues a separate money‑laundering probe into larger alleged loan diversions.