The Central Bureau of Investigation has booked Anil Ambani in a ₹1,085 crore Punjab National Bank loan fraud case.
The CBI filed the case under Sections 420 and 120B of the IPC after receiving a complaint from PNB Chief Manager Santoshkrishna Annavarpu. According to the FIR, Reliance Communications, led by Anil Ambani, allegedly defrauded the bank between 2013 and 2017.
PNB accused the company of taking loans without any intention of repayment. The bank claimed that Reliance Communications diverted funds, causing financial losses and breaching trust.
The FIR named Anil Ambani, Majari Kacker, Reliance Communications, and other unidentified individuals. Investigators stated that the accused misused the loan facility and engaged in fraudulent practices.
PNB alleged that Reliance Communications deliberately misrepresented its financial position to secure loans. The bank maintained that the company failed to honour repayment commitments and instead diverted funds for unauthorised purposes.
The CBI confirmed that the case involves criminal conspiracy and cheating. Officials emphasised that the investigation will examine the role of Ambani and former executives in the fraud.
