The Central Bureau of Investigation (CBI) conducted searches at the residence of Reliance Communications Ltd. (RCOM) Director Anil Ambani in Mumbai, following the registration of a case against him and the company for allegedly defrauding the State Bank of India (SBI) of ₹2,929.05 crore. The CBI teams searched two locations, including Ambani’s residence, ‘Sea Wind’, in Cuffe Parade, and the company’s official premises. The agency had registered a First Information Report (FIR) against Ambani, RCOM, unnamed public servants, and others, based on a complaint filed by SBI.
The CBI alleged that Ambani and RCOM were involved in criminal conspiracy, cheating, and criminal breach of trust. The searches were conducted after the agency obtained search warrants from the Special CBI Court in Mumbai on August 22, 2025. A spokesperson for Ambani stated that the search at his residence was concluded and that the complaint filed by SBI pertained to matters dating back over 10 years, during which time Ambani was a non-executive director of the company with no involvement in day-to-day management.
The spokesperson also noted that SBI had already withdrawn proceedings against five other non-executive directors and that Ambani had been “selectively singled out”. Ambani strongly denies all allegations and charges and will defend himself. The case dates back to 2020 when SBI initially classified Ambani and the company account as ‘fraud’. However, the complaint was returned, and the classification was later reversed due to a Supreme Court ruling. The account was reclassified as fraud after the RBI issued revised guidelines in July 2024.
The Reliance Communications is currently being managed by a Committee of Creditors led by SBI, under a resolution professional, and the matter has been pending before the National Company Law Tribunal (NCLT) and other judicial forums for six years. The CBI’s action is the latest development in the case, and it remains to be seen how the investigation will unfold. Ambani’s denial of the allegations and his intention to defend himself suggest that the case may be contested vigorously. The outcome of the investigation and any potential legal proceedings will have significant implications for Ambani, RCOM, and the involved parties.