CBI registers ₹1,085 crore fraud case against Anil Ambani in PNB loan matter

Mumbai (The Uttam Hindu): Trouble appears to be mounting for renowned industrialist Anil Ambani. The Central Bureau of Investigation (CBI) has filed a case against him under sections 420 and 120-B of the Indian Penal Code. This action was taken based on a complaint by Punjab National Bank (PNB) Chief Manager Santoshkrishna Annavarapu.

According to the CBI FIR, between 2013 and 2017, Anil Ambani, along with the then officials of his company Reliance Communications, allegedly defrauded Punjab National Bank of around Rs 1,085 crore.

The state-owned bank alleges that Reliance Communications took the loan with the intention of not repaying it. It also alleges that the company deliberately diverted the funds received from the bank.

According to the complaint, the accused committed not only fraud but also criminal breach of trust by misappropriating bank funds. The CBI has also named Anil Ambani, Reliance Communications, and Majhari Kakar, among others, as accused in the FIR. The investigation is currently ongoing, and the agency is examining documents and financial transactions.