CBI questions Anil Ambani in Rs 2929 crore SBI cheating case

The CBI questioned industrialist Anil Ambani in connection with an alleged Rs 2,929 crore cheating case linked to SBI loans to Reliance Communications. The agency has alleged fund diversion and irregularities, while Ambani has denied all charges

New Delhi: The CBI on Thursday questioned industrialist Anil Ambani in connection with the alleged 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 this morning for questioning in the case.

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The agency has alleged fund diversion, misappropriation and other irregularities in the loan funds issued to the company by the bank, they said.

The spokesperson for Anil Ambani said in a statement on Thursday that he will be appearing before the Central Bureau of Investigation (CBI) in Delhi on March 19 and 20 “for examination in connection with the FIR registered on the basis of a complaint filed by the State Bank of India”.

“The appearance is in furtherance of Mr Ambani’s commitment to extend full cooperation in the matter with all agencies,” the spokesperson said.

The CBI had booked Ambani in August last year for allegedly defrauding the SBI to the tune of Rs 2,929.05 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 2,929.05 crore, as per 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.

“Anil D Ambani denies all allegations and charges, and will duly defend himself,” the spokesperson said.

According to sources, the agency had also searched Ambani’s residence, ‘Sea Wind’, at Cuffe Parade in Mumbai.

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

At the relevant time, he was a non-executive director of the company, with no involvement in the day-to-day management, the statement 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.