The Central Bureau of Investigation (CBI) has registered a second case against Reliance Communications on the basis of Bank of Baroda’s complaint dated February 24, 2026. In this case, charges of criminal misconduct and misuse of official position have been filed against Reliance Communications promoter and former RCAM chairman Anil Ambani and others under the IPC, conspiracy, fraud and Prevention of Corruption Act.
The FIR alleges that Bank of Baroda has suffered a loss of more than Rs 2,220 crore due to loans taken by Reliance Communications. It is alleged that these loans were misused by carrying out fraudulent transactions with related parties. The accounts of Reliance Communications Limited were manipulated and irregularities were concealed.
This account was declared NPA
This account was declared non-performing asset (NPA) in 2017 itself. However, based on a petition filed by Anil Ambani in the Bombay High Court, the declaration of the accounts as fraud was stayed. This ban was lifted on March 23, 2026, after which Bank of Baroda filed this complaint and CBI immediately started investigating the case.
It may be recalled that CBI has already registered another case against M/s Reliance Communications on the basis of a complaint filed by SBI, the lead bank of a group of 11 banks.
However, Bank of Baroda was not part of the said group, and this is a separate loan taken by Reliance Communications Limited from Bank of Baroda, erstwhile Vijaya Bank and erstwhile Dena Bank. Vijaya Bank and Dena Bank have now been merged into Bank of Baroda. After registration of this case, CBI has conducted searches at the residence of Anil Ambani and the registered offices of M/s Reliance Communications Limited. Various documents related to this loan transaction have been recovered.
Also read: ‘Terrorism has no place in the world, we stand shoulder to shoulder…’, PM Modi’s message to Pakistan from Israeli soil
