Mumbai1 minute ago
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The Enforcement Directorate (ED) has raided nearly 50 places in Anil Ambani’s companies in Mumbai today i.e. 24 July. The raid was conducted by State Bank of India (SBI) a few days after Reliance Communications Limited (RCom) and its owner Anil Ambani were declared ‘fraud’.
SBI action on Anil Ambani and his company This action took place when the State Bank of India (SBI) declared Anil Ambani and his company RCom as ‘fraud’. On 23 June 2025, SBI put the RCom loan account in the fraud category and informed the Reserve Bank of India (RBI) on 24 June 2025.
SBI says that RCom misused a loan of Rs 31,580 crore taken from the bank. Out of this, about Rs 13,667 crore was spent in repaying loans of other companies. 12,692 crore rupees were transferred to other companies of Reliance Group. It was against the rules.
SBI also said that it is in the process of filing a complaint with the Central Bureau of Investigation (CBI) in this matter. Apart from this, the action of Personal Insolvency (Insolvency) against Anil Ambani is also going on in the National Company Law Tribunal (NCLT), Mumbai.
SB declared RCom’s loan account a fraud State Bank of India (SBI) has declared the loan account of Reliance Communications Limited (RCOM) as fraud. SBI is now preparing to report the name of former RCom director Anil Ambani to Reserve Bank of India (RBI).
SBI sent a letter to RCom on 23 June 2025, saying that its fraud investigation committee has termed the company’s loan account as fake. After forensic audit and several notices, the bank found that the company misused the fund. It is alleged that RCom diverted loan money to Reliance Telecom Limited (RTL) and other group companies. Also violated the terms of the loan.
