Anil Ambani, Chairman and Managing Director of Reliance Group, has responded to the recent developments in the alleged ₹2,929 crore bank fraud case. Through a spokesperson, Ambani clarified that the complaint filed by the State Bank of India (SBI) pertains to events dating back more than a decade. At that time, Ambani was a Non-Executive Director of the company and had no involvement in its day-to-day operations.
The spokesperson also asserted that Ambani is being selectively singled out, noting that SBI, by its own order, had already withdrawn proceedings against five other non-executive directors of Reliance Communications. Currently, Reliance Communications is under the management of a Committee of Creditors, led by SBI and overseen by a Resolution Professional, the statement added.
The matter, which has been pending for the past six years, remains sub judice in various judicial forums, including the National Company Law Tribunal (NCLT) and the Supreme Court of India. Ambani’s statement emphasized that he strongly denies all allegations and charges and intends to fully defend himself.
Earlier on August 23, the Central Bureau of Investigation (CBI) conducted a search at Anil Ambani’s Mumbai residence after registering a case of alleged fraud involving SBI to the tune of ₹2,929.05 crore. This followed the CBI’s filing of an FIR on Thursday against Reliance Communication Ltd., Anil Ambani, and others, based on a complaint from SBI, the country’s largest lender.
Ambani’s spokesperson reiterated that the legal proceedings have been ongoing for several years, and the chairman will continue to challenge the allegations in court.
