New Delhi: Reliance Group Chairman and Managing Director Anil Ambani has formally addressed the latest developments surrounding the alleged Rs 2,929 crore bank fraud case.
The spokesperson on behalf of Anil D. Ambani said, “…….”
“The search at Anil D. Ambani’s residence concluded early saturday afternoon. The complaint filed by State Bank of India (SBI) pertains to matters dating back more than 10 years. At the relevant time, Ambani was a Non-Executive Director of the company, with no involvement in the day-to-day management,” the spokesperson said.
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“It is pertinent to note that SBI, by its own order, has already withdrawn proceedings against five other Non-Executive Directors. Despite this, Ambani has been selectively singled out,” the spokesperson added.
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 Supreme Court, for the past six years, the spokesperson said.
“Ambani has duly challenged SBI’s declaration before the competent judicial forum. Ambani strongly denies all allegations and charges, and will duly defend himself,” the spokesperson added.
The Central Bureau of Investigation (CBI) has registered a criminal case against Reliance Communication Ltd. (RCOM), its Director Anil D. Ambani, unidentified public servants, and others following a complaint from the State Bank of India (SBI), Mumbai. The case pertains to an alleged bank fraud amounting to Rs 2,929.05 crore, according to a CBI press note.
The FIR, registered on August 21, accuses the parties of conspiring to defraud SBI by misrepresenting facts to secure credit facilities in favour of RCOM.
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