The Central Bureau of Investigation (CBI) recently raided industrialist Anil Ambani’s Mumbai residence in connection with a Rs 3,073 crore bank fraud case involving Reliance Communications Limited (RCOM). The fraud complaint was filed by the State Bank of India (SBI), which had earlier classified RCOM and Ambani as “fraud” due to non-payment of loans. Anil Ambani has denied all charges, stating that he was a non-executive director with no role in day-to-day management. This case is part of broader probes against Ambani's business entities for multiple bank frauds amounting to over Rs 17,000 crore.
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