NEW DELHI, March 20, 2026 — The Central Bureau of Investigation (CBI) has intensified its probe into the financial dealings of Reliance Communications (RCom) chairman Anil Ambani. For the second consecutive day, the industrialist appeared at the CBI headquarters in Delhi to answer for a multi-crore bank fraud that has rocked the Indian corporate sector.

The Anatomy of a ₹3,000 Crore Deficit

The investigation stems from a formal complaint filed on August 21, 2025, by the State Bank of India (SBI), the lead lender in a consortium of 11 financial institutions. The case involves a staggering ₹2,929.05 crore in alleged wrongful losses, though the total exposure of the 17 public sector banks involved is nearly seven times that amount, totaling ₹19,694 crore.

Following a marathon eight-hour questioning session on Thursday, Ambani was summoned back immediately for further interrogation as officials delve into the movement of capital across his telecom empire.

Forensic Audit Exposes “Complex Transactions”

The core of the CBI’s case rests on a forensic audit that tracked loan utilization between 2013 and 2017. The findings suggest a deliberate strategy of:

• Large-scale Diversion: Funds intended for operational expansion and debt management were allegedly redirected.
• Misutilization of Loans: Credits were funneled through “complex transactions” designed to mask the ultimate destination of the money.

Investigators claim these irregularities weren’t just business failures but systematic efforts that caused massive losses to the state-run banking system.

The Net Tightens: Raids and Seizures

The current interrogation is the culmination of a year-long buildup. In August 2025, the CBI executed coordinated raids across RCom’s corporate offices and Ambani’s personal residence in Mumbai. During these searches, investigators reportedly seized a cache of documents deemed “incriminating,” which are now being used as the basis for the current line of questioning.

The legal pressure is mounting from multiple sides, with other major lenders like Punjab National Bank, Bank of Baroda, and Union Bank of India filing additional complaints against the company’s directors.

The Burden on Public Sector Banks

The list of affected institutions highlights the vulnerability of India’s public finance sector. Banks currently seeking answers and recovery include:

• SBI and PNB (Lead complainants)
• IDBI, UCO Bank, and Bank of India
• Central Bank of India and Bank of Maharashtra.

Bottom Line

The era of high-leverage corporate borrowing without accountability is facing its most significant test. As the CBI pieces together the paper trail of RCom’s diverted billions, the focus has shifted from “business loss” to “criminal intent.” For the Reliance Group chairman, the back-to-back interrogations signal that the agency believes it has the forensic evidence to challenge the narrative of a simple telecom sector collapse.