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Rs 2,220 cr Bank of Baroda loan fraud: Fresh CBI case against Anil Ambani
Rs 2,220 cr Bank of Baroda loan fraud: Fresh CBI case against Anil Ambani
The CBI has registered a fresh case against industrialist Anil Ambani in connection with an alleged Rs 2,220-crore loan fraud involving Bank of Baroda. Following the registration of the case, CBI officials searched Anil Ambani’s residence and the registered offices of Reliance Communications, recovering several documents related to the alleged loan diversion.
The CBI has registered a fresh case against Anil Ambani, promoter and erstwhile chairman of Reliance Communications (RCom), on February 24, following a complaint by Bank of Baroda, accusing RCom and its senior executives of cheating, criminal conspiracy, and diversion of bank funds. The agency has also invoked provisions of the Prevention of Corruption Act related to misconduct and abuse of official position.
“The allegations in the FIR are that Bank of Baroda has suffered a loss of more than Rs 2,220 crore due to the loans availed by M/s Reliance Communication which were allegedly diverted and mis-utilised by creating fictitious transactions with related parties. The books of accounts of M/s Reliance Communications Ltd. were manipulated and irregularities concealed,” the spokesperson said.
“The account was declared a Non-Performing Asset in 2017 itself. However, based on the petition filed by Anil Ambani before the Hon’ble High Court of Bombay, there was stay on the declaration of the accounts as a fraud by the Hon’ble High Court. The stay was vacated on February 23 after which the Bank of Baroda lodged this complaint and CBI has taken up the case immediately,” the spokesperson added.
This is the second case filed by the CBI against the debt-laden telecom company. Earlier, the agency registered an FIR based on a complaint by the State Bank of India (SBI), the lead bank of a consortium of 11 lenders. Bank of Baroda was not part of that consortium; the current case pertains to a separate loan exposure.
A query was sent to the spokesperson of Anil Ambani and they did not respond.
Source: Msn.com
Source: OfficeNewz
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