Anil Ambani: The Central Bureau of Investigation (CBI) has registered another case against industrialist Anil Ambani and his company Reliance Communications Limited (RCom) in Mumbai. The Central Investigation Agency has taken this step after the complaint of Punjab National Bank (PNB). On March 5, PNB has accused Anil Ambani, RCom and a former director of the company of fraud of more than Rs 1085 crore.
What did the bank say in the complaint?
According to the complaint, the alleged fraud caused a combined loss of approximately Rs 1085.19 crore to PNB and United Bank of India (now merged into PNB). This FIR has been registered on the basis of the complaint of Santoshkrishna Annavarapu, Chief Manager of Stressed Assets Management Branch of PNB in Mumbai.
According to the complaint, the accused allegedly conspired to obtain a credit facility for Reliance Communications and later diverted or misappropriated the loan money. Ambani, Reliance Communications Limited and its former director Manjari Ashok Kakkar have been made accused in this case.
Big revelation made in investigation
PNB alleged that between 2013 and 2017, the accused knowingly hatched a criminal conspiracy to defraud the bank and wrongfully obtain credit facilities. The loan was not used for the purpose for which it was taken. These were used for companies linked to them and for fake transactions.
The investigation also revealed that the accounts books of the company were manipulated to mislead the bank and hide the irregularities. PNB said that the forensic audit conducted by BDO India LLP revealed misuse of funds and violation of rules. After this, in February 2021, the bank declared these accounts as ‘fraud’. Recently, on the complaint of Bank of Baroda, CBI had also registered a case of fraud of Rs 2220 crore against Anil Ambani and his associated companies.
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