Reliance Group Chairperson Anil Ambani was questioned for nearly eight hours by the Central Bureau of Investigation in Delhi on Thursday in connection with a loan fraud case involving the State Bank of India.
Ambani has been summoned again for questioning on Friday.
The probe follows a complaint filed by SBI alleging fraud by Reliance Communications and its promoter.
According to the complaint, SBI reported a loss of Rs 2,929 crore, alleging misappropriation of funds by Reliance Communications and Ambani through transactions that violated loan terms. The bank had classified the accounts as fraudulent in June last year, which led to searches by the CBI at company offices and Ambani’s residence.
Alongside Ambani, Amit Dangi, the whole-time director at Authum Investment & Infrastructure Ltd., was also questioned for around seven hours. Authum Investment has taken over the assets of Reliance Commercial Finance Ltd. and Reliance Home Finance Ltd., both currently under investigation.
Ambani had earlier approached the Supreme Court of India in December after the Bombay High Court upheld SBI’s decision to classify the accounts as fraud. He argued that key documents used for the classification were not initially provided to him and were shared only after six months.
Reliance Communications, once a major telecom operator, is undergoing insolvency proceedings due to mounting debt and operational challenges.
Separately, Ambani’s son Jai Anmol Ambani was questioned by the CBI for two days last week in connection with a Rs 228 crore fraud case linked to Reliance Home Finance Ltd. The case, based on a complaint by Union Bank of India, alleges criminal conspiracy, cheating, and misconduct involving company officials, including former CEO Ravindra Sudhalkar, resulting in wrongful losses to the bank.