Brief by Shorts91 Newsdesk / 06:16pm on 23 Aug 2025,Saturday India
The Central Bureau of Investigation (CBI) has registered a criminal case against Reliance Communications and director Anil Ambani after the State Bank of India (SBI) alleged a ₹2,929 crore loss from fraudulent loan activities. Searches were conducted at Ambani’s Mumbai residence and company offices as part of the probe. Indian billionaire Ambani vehemently denied all allegations, stating the charges pertain to a decade-old period during which he served only as a non-executive director and had no role in daily operations. He also accused SBI of selectively targeting him, despite withdrawing claims against other non-executive directors. (PC: The Economic Times)
