CBI Files Chargesheet Against Reliance Communications, 15 Others
Anil Ambani-Led RCom Faces CBI Chargesheet in Multi-Crore Bank Fraud Probe: The Central Bureau of Investigation (CBI) has stepped up its probe into the alleged bank loan fraud involving Anil Ambani-led Reliance Communications (RCom). In a major development, the agency has filed its first chargesheet in a special court in Mumbai.
The chargesheet names 16 accused, including Reliance Communications, five senior company executives, and 10 officials from State Bank of India (SBI), Bank of Maharashtra, and the erstwhile Syndicate Bank.
According to the CBI, loans and credit facilities worth ₹2,050 crore were allegedly diverted and not used for the purposes for which they were sanctioned. The amount under investigation includes a ₹1,200 crore term loan from SBI, a ₹500 crore Letter of Credit facility from Bank of Maharashtra, and a ₹350 crore Letter of Credit facility from Syndicate Bank.
Investigators believe that the funds were misused, causing significant losses to public sector banks. SBI has claimed a loss of ₹2,929 crore in the case. The total loss suffered by the consortium of banks is estimated at nearly ₹19,694 crore.
The case is part of a larger investigation into companies linked to Anil Ambani. So far, the CBI has registered seven FIRs against various group companies. The investigation is still underway, and the agency is expected to file additional chargesheets as it uncovers more details.
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