CBI questions Anil Ambani for second day in Rs 2,929 crore SBI fraud case

The CBI questioned Anil Ambani for a second day in connection with a Rs 2,929 crore SBI fraud case involving Reliance Communications, probing alleged fund diversion and irregularities, while Ambani denied the allegations and assured cooperation with investigating agencies.

New Delhi: The CBI on Friday questioned industrialist Anil Ambani for the second consecutive day in connection with a Rs 2,929-crore cheating case, registered against Reliance Communications Ltd and him on a complaint by the State Bank of India, officials said.

Ambani arrived at the agency headquarters at around 10 am, they said.

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On Thursday, the Central Bureau of Investigation (CBI) sought his responses on alleged fund diversion, misappropriation and other irregularities in the loan funds issued to the company by the bank, they said.

“The appearance is in furtherance to Mr Ambani’s commitment to extend full cooperation in the matter with all agencies,” Anil D Ambani’s Spokesperson had said in a statement on Thursday.

The CBI had booked Ambani in August last year for allegedly defrauding the SBI to the tune of Rs 2,929 crore, officials said.

According to the SBI complaint, now part of the FIR, the company had an outstanding of over Rs 40,000 crore to various lenders, with the public sector bank alone facing a loss of Rs 2,929 crore, according to 2018 figures.

The CBI booked Ambani and RCom for allegedly committing offences of criminal conspiracy, cheating and criminal breach of trust.

“It is alleged that the accused persons, in criminal conspiracy, misrepresented and got sanctioned credit facilities from SBI in favour of Reliance Communication Ltd,” a CBI spokesperson said in a statement in August last year.

Ambani’s spokesperson responded, “Anil D Ambani denies all allegations and charges, and will duly defend himself.” According to sources, the agency also searched the Ambani residence ‘Sea Wind’ at Cuffe Parade in Mumbai.

The complaint filed by SBI pertains to matters dating back more than 10 years, according to Ambani’s spokesperson.

At that time, Ambani was a non-executive director of the company, with no involvement in the day-to-day management, a statement from his spokesperson then said.

“The matter remains sub-judice, pending before the NCLT (National Company Law Tribunal) and other judicial forums, including the Supreme Court, for the past six years,” it said.

Anil Ambani has duly challenged SBI’s declaration before the competent judicial forum, it said.