New Delhi: In the ₹2,929 crore bank fraud case, industrialist Anil Ambani was questioned for over seven hours for the second consecutive day as investigators intensified their probe into alleged financial irregularities. The extended interrogation focused on company transactions, loan utilization and suspected fund diversion. A day earlier, he had faced nearly eight hours of questioning, indicating that the investigation has now entered a crucial phase.
SBI Complaint Triggers Probe Into RCom Loans
The case was registered following a complaint by the State Bank of India (SBI), which alleged serious irregularities and fraud in loans linked to Reliance Communications (RCom). According to investigators, the probe is centered on the alleged misuse of loan funds, diversion of money and other financial discrepancies in the company’s dealings.
Sources said Anil Ambani arrived at the agency’s headquarters around 10 am and left at approximately 5:15 pm after hours of detailed questioning. During this period, officials sought clarifications on multiple documents, transaction records and key financial decisions taken by the company. A major focus of the inquiry is to establish whether the loan funds were used for their intended purpose or diverted elsewhere.
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Investigators have already gathered a substantial volume of financial records, banking documents and internal transaction details related to the case. These are now being cross-examined with Ambani’s statements to strengthen the evidence base. Officials believe that matching documentary proof with verbal responses will be critical in determining the extent of alleged wrongdoing.
Parallel Inquiry in ₹57.47 Crore Case
In a related development, Divi Dangi was also questioned in a separate financial irregularity case involving an alleged fraud of ₹57.47 crore linked to Reliance Commercial Finance Limited. The probe has brought into focus the role of Authum Investment & Infrastructure Limited, which had acquired certain assets of companies currently under investigation.
Officials said the inquiry in this case is examining whether any regulatory violations occurred during the acquisition of assets and financial transactions. Investigators are also exploring whether there is any connection between this case and the larger bank fraud involving RCom.
Complex Financial Structures Under Scrutiny
According to officials, both cases involve complex financial structures with multiple entities, directors and intermediary firms. This has made the investigation intricate, requiring a detailed examination of each transaction to understand the broader network.
Experts point out that in large-scale bank fraud cases, funds are often routed through several companies and accounts to obscure the money trail, making detection more difficult. This is why investigators are now relying heavily on digital trails, banking data and corporate structuring analysis to piece together the sequence of transactions.
The questioning is expected to continue as investigators dig deeper into the financial trail. Officials indicated that further disclosures may emerge in the coming days, which could significantly impact the direction of the case.
If sufficient evidence is established, legal action may follow as per the findings of the investigation. The case is being closely watched, as it is considered one of the significant corporate and banking fraud probes in recent times, with wider implications for financial accountability and corporate governance in the country.
