New Delhi, Aug 23 (UNI) The Central Bureau of Investigation (CBI) today conducted searches at two locations in Mumbai linked to businessman Anil Ambani in connection with a bank loan fraud case of Rs 2929.05 crore.
The search warrant was obtained from a special Mumbai court on Friday.
A CBI official told UNI here that the investigating agency had lodged an FIR on Thursday (August 21) based on a complaint received from State Bank of India, Mumbai, against M/s Reliance Communication Ltd. (RCOM), Mumbai, its Director Anil D. Ambani, unknown public servants and other unknown people on the allegations of defrauding the bank, and thereby causing wrongful loss of Rs 2929.05 crores to the Bank.
Anil Ambani and others allegedly got sanctioned credit facilities from SBI in favour of M/s Reliance communication Ltd. The loans were later allegedly diverted and misutilized.
“There were allegations pertaining to potential routing of loan funds and inter-company loan transactions, misutilization of sales invoice financing, discounting of bills of RCOM by M/s Reliance Infratel Ltd, movement of funds through inter corporate deposits, write off of capital advances given to M/s Netizen Engineering Pvt. Ltd.- a group company of Reliance ADA Group, and creation/write off of fictitious debtors, etc. By the aforementioned acts the accused persons are alleged of committing offences of criminal conspiracy, cheating, criminal breach of trust,” the CBI official said.
The CBI had on August 22, moved an application before a Special CBI Court in Mumbai and obtained a search warrant against Anil Ambani and others.
