Anil Ambani Faces New PMLA Case

New Case Filed Against Anil Ambani

India’s financial watchdog, the Enforcement Directorate (ED), has launched a fresh inquiry under the Prevention of Money Laundering Act (PMLA) against industrialist Anil Ambani and his firm, Reliance Communications (RCom).

The probe centers on alleged irregularities that caused a staggering ₹2,929 crore loss to the State Bank of India (SBI). This move intensifies the ongoing scrutiny of Ambani and his group’s financial dealings, adding another layer to his already complex legal landscape.

CBI Joins the Investigation with FIR and Raids

Adding to the pressure, the Central Bureau of Investigation (CBI) has registered a criminal case against Anil Ambani, RCom, and others. Their filing follows a complaint by SBI and includes allegations of bank fraud amounting to the same ₹2,929 crore loss. CBI officers conducted raids at locations tied to Ambani, signaling a full-scale investigation into the alleged misuse of funds.

Market Impact and Regulatory Pressure

In parallel, several Indian banks—including SBI, Bank of India, and notably Bank of Baroda—have declared the loan accounts linked to RCom and Anil Ambani as fraudulent. This collective labeling reflects a growing consensus among financial institutions about willful default and misrepresentation.

While Ambani has denied all allegations, these combined investigations and convictions have cast a significant shadow over his corporate reputation.

Corporate Response from Reliance Infra and Power

Despite the legal heat surrounding Ambani and RCom, his associated companies—Reliance Infrastructure and Reliance Power—have sought to distance themselves.

Both firms released statements noting that Ambani has not been part of their management or governance for over three and a half years, asserting that the investigations against him will not affect their ongoing operations or stakeholder interests.