NEW DELHI, India, August 25, 2025 (ePRESS) – India’s national investigative agency has filed a criminal case against business tycoon Anil Ambani after a fraud complaint was made by the country’s biggest lender, the State Bank of India (SBI), officials said on Saturday.
Anil Ambani, the younger brother of Asia’s richest man Mukesh Ambani, has business interests in power, infrastructure and defense.
SBI alleged that Anil Ambani and his former telecom company, Reliance Communications, misused funds borrowed from the bank. The complaint said the company entered into transactions that violated loan conditions, leading to what investigators described as “misappropriation” of bank money.
The case adds fresh trouble for Anil Ambani, whose businesses have faced heavy debts and legal challenges in recent years. Reliance Communications, once a major telecom player in India, collapsed under mounting liabilities and filed for bankruptcy in 2019.
India’s Central Bureau of Investigation (CBI) confirmed that it has registered the case and begun an inquiry into the allegations.
