Anil Ambani Denies Rs 2,000-Crore Bank Fraud Allegations After CBI Raids Premises

Industrialist Anil Ambani has denied all charges and allegations relating to the Rs 2,929.05-crore case filed by State Bank of India (SBI). A spokesperson on behalf of Anil D. Ambani said, "The search at Anil D. Ambani’s residence concluded early this afternoon. The complaint filed by State Bank of India (SBI) pertains to matters dating back more than 10 years. At the relevant time, Mr. Ambani was a Non-Executive Director of the company, with no involvement in the day-to-day management."

"It is pertinent to note that SBI, by its own order, has already withdrawn proceedings against five other Non-Executive Directors. Despite this, Mr. Ambani has been selectively singled out," said the statement.

"At present, Reliance Communications is being managed under the supervision of a Committee of Creditors, led by SBI and overseen by a Resolution Professional. The matter remains sub judice, pending before the NCLT and other judicial forums, including the Hon’ble Supreme Court, for the past six years," it added.

Ambani has duly challenged SBI’s declaration before the competent judicial forum. He strongly denies all allegations and charges, and will duly defend himself.

This is a developing story