CBI said in a statement that it has registered a second case against Reliance Communications based on a complaint from Bank of Baroda for cheating, criminal misconduct and conspiracy
CBI filed a case against Reliance Communications and Anil Ambani for allegedly cheating Bank of Baroda of ₹2,220 crore. Bank frauds and NPAs are important for UPSC.
Don't assume all bank fraud cases are investigated solely by the CBI; other agencies also play a role.
Reliance Communications Limited (RCom) is a telecom company promoted by businessman Anil Ambani. The company took loans from multiple banks but allegedly misused the funds. This has led to multiple fraud investigations by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED).
The ED alleged that the Pali Hill property was transferred into the RiseE Trust (a private family trust of Anil Ambani's family members) to make it appear that Anil Ambani was not personally involved in the fraud.
| Date | Event |
|---|---|
| 2017 | Loan account declared NPA |
| August 2025 | ED questioned Anil Ambani |
| January 2026 | Former RCom director Punit Garg arrested by ED |
| February 23, 2026 | High Court stay on fraud declaration vacated |
| February 24, 2026 | CBI registers second FIR |
| February 26, 2026 | ED attaches Pali Hill property; Anil Ambani appears before ED under PMLA |
Q1. Consider the following statements regarding the case involving Reliance Communications Limited (RCom) and Anil Ambani: 1. The Central Bureau of Investigation (CBI) registered the First Information Report (FIR) based on a complaint filed by the State Bank of India (SBI). 2. The Enforcement Directorate (ED) attached Anil Ambani’s Pali Hill residential property in Mumbai worth ₹3,716.83 crore in connection with the alleged RCom bank fraud case.
The option at index 1 is correct because statement 2 is correct as the ED attached Anil Ambani’s Pali Hill residential property in Mumbai worth ₹3,716.83 crore. The option at index 0 is incorrect because statement 1 is incorrect as the CBI registered the FIR based on a complaint filed by the Bank of Baroda, not the State Bank of India. The SBI complaint led to a separate, earlier case.
Q2. In February 2026, the CBI registered a case against RCom based on a complaint from which bank?
The option at index 2 is correct because the CBI registered the case based on a complaint filed by the Bank of Baroda. The option at index 0 is incorrect because the CBI had already registered another case against RCom following a complaint lodged by the State Bank of India. The options at index 1 and 3 are incorrect because the article does not mention any complaints from the Bank of Maharashtra or Punjab National Bank.