Rs 2,220 cr Financial institution of Baroda mortgage ‘fraud’: Contemporary CBI case in opposition to Anil Ambani | India Information
2 min learnNew DelhiFeb 26, 2026 10:33 PM IST
The CBI has registered a recent case in opposition to industrialist Anil Ambani in reference to an alleged Rs 2,220-crore mortgage fraud involving Financial institution of Baroda. Following the registration of the case, CBI officers searched Anil Ambani’s residence and the registered places of work of Reliance Communications, recovering a number of paperwork associated to the alleged mortgage diversion.
The CBI has registered a recent case in opposition to Anil Ambani, promoter and erstwhile chairman of Reliance Communications (RCom), on February 24, following a criticism by Financial institution of Baroda, accusing RCom and its senior executives of dishonest, felony conspiracy, and diversion of financial institution funds. The company has additionally invoked provisions of the Prevention of Corruption Act associated to misconduct and abuse of official place.
“The allegations within the FIR are that Financial institution of Baroda has suffered a lack of greater than Rs 2,220 crore because of the loans availed by M/s Reliance Communication which had been allegedly diverted and mis-utilised by creating fictitious transactions with associated events. The books of accounts of M/s Reliance Communications Ltd. had been manipulated and irregularities hid,” the spokesperson mentioned.
“The account was declared a Non-Performing Asset in 2017 itself. Nevertheless, primarily based on the petition filed by Anil Ambani earlier than the Hon’ble Excessive Courtroom of Bombay, there was keep on the declaration of the accounts as a fraud by the Hon’ble Excessive Courtroom. The keep was vacated on February 23 after which the Financial institution of Baroda lodged this criticism and CBI has taken up the case instantly,” the spokesperson added.
That is the second case filed by the CBI in opposition to the debt-laden telecom firm. Earlier, the company registered an FIR primarily based on a criticism by the State Financial institution of India (SBI), the lead financial institution of a consortium of 11 lenders. Financial institution of Baroda was not a part of that consortium; the present case pertains to a separate mortgage publicity.
A question was despatched to the spokesperson of Anil Ambani and they didn’t reply.