Overview

• CBI filed the FIR on August 21 after receiving SBI’s complaint on August 18, obtained search warrants from a Special CBI Court on August 22, and searched RCom offices and Ambani’s Mumbai residence on August 22–23.
• SBI reclassified RCom and Anil Ambani as ‘fraud’ on June 13, 2025 under updated RBI procedures and reported it to the central bank on June 24, citing exposure of Rs 2,227.64 crore plus a Rs 786.52 crore bank guarantee.
• The complaint and FIR cite alleged diversion through inter‑company loans and deposits, misuse of sales‑invoice financing and bill discounting via Reliance Infratel, write‑off of capital advances to Netizen Engineering, creation of fictitious debtors, and large transfers to connected parties.
• The forensic findings referenced by SBI say RCom group entities received Rs 31,580 crore from banks, with about Rs 13,668 crore used to repay lenders and about Rs 12,692 crore paid to connected companies.
• Bank of India separately tagged RCom and Ambani as ‘fraud’ in an August 8 letter disclosed this weekend over a Rs 700 crore facility that turned NPA with Rs 724.78 crore outstanding, as the ED pursues a parallel money‑laundering probe and Ambani denies wrongdoing, citing his non‑executive role and ongoing insolvency proceedings.