Anil Ambani, chairman and managing director of the Reliance Group, has strongly denied allegations in connection with the ₹2,929 crore bank fraud case, after the Central Bureau of Investigation (CBI) carried out searches at his Mumbai residence on Saturday.

Ambani’s Statement

Through a spokesperson, Ambani said the complaint filed by the State Bank of India (SBI) relates to events over a decade old.

“At the relevant time, Mr. Ambani was a Non-Executive Director of the company, with no involvement in its day-to-day management,” the statement said, adding that he is being “selectively singled out.”

The spokesperson further pointed out that SBI itself had withdrawn proceedings against five other non-executive directors in the matter.

Reliance Communications Under Creditors’ Supervision

The statement also noted that Reliance Communications is currently under the supervision of a Committee of Creditors led by SBI and monitored by a Resolution Professional.

The case has been sub judice for six years, pending before the NCLT and higher courts, including the Supreme Court, the statement said. Ambani reaffirmed that he “strongly denies all allegations and charges and will duly defend himself.”

The CBI Case

The CBI recently registered an FIR against Reliance Communications Ltd, Anil Ambani, unknown public servants, and others based on a complaint from SBI. Following this, investigators carried out searches at Ambani’s residence in Mumbai on August 23.

SBI alleged that Reliance Communications and related entities defaulted on loans amounting to ₹2,929.05 crore.

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