REGULATORY · INDIA
India CBI opens second RCOM bank-fraud case and searches Anil Ambani premises
Change
India’s CBI registered a second criminal case against Reliance Communications on a Bank of Baroda complaint alleging ₹2,220 crore loan fraud and conducted searches at Anil Ambani’s office and residence (Feb. 26, 2026).
Why it matters
CBI’s filing of a second FIR/case based on Bank of Baroda’s complaint changes the legal posture from a single investigation to multiple CBI matters around the same borrower group. The alleged quantum (₹2,220 crore) and claims of fictitious related-party transactions raise the stakes for evidentiary review of inter-company dealings, loan end-use, and governance controls. Searches at Anil Ambani’s office and residence indicate active evidence collection and broaden the set of records/devices potentially in scope. The development also tightens coordination dependencies between bank complainants, CBI investigation steps, and any parallel financial-crime proceedings referenced in the report.
Implications
- • RCOM and associated executives face expanded criminal investigation scope (second CBI case).
- • Search-and-seizure actions increase near-term document/device preservation and scrutiny.
- • Bank lenders’ recovery and provisioning processes may be impacted by new case filings.
- • Related-party transaction trails may face heightened investigative and legal examination.
Who is affected
- • Reliance Communications Limited (RCOM) and Reliance Group-linked entities
- • Anil Ambani and current/former RCOM directors/executives
- • Bank of Baroda and other lenders/exposure holders to RCOM debt
- • Counterparties involved in alleged related-party transactions with RCOM
Source
Topics
Law & Public Safety Regulatory Actions Compliance Criminal Justice