Published on, Aug. 23 -- August 23, 2025 7:24 PM

India's federal investigation opened a criminal case against industrialist Anil Ambani and his company Reliance Communications. The case follows a complaint by the State Bank of India, the country's largest bank. The bank alleges that Ambani and his company caused losses worth 30 billion rupees ($344 million). Authorities claim the funds were misused and diverted from their intended purpose.

The Central Bureau of Investigation (CBI) conducted search operations at Anil Ambani's Mumbai residence and Reliance Communications' offices. The company is now insolvent and under scrutiny. The investigation focuses on alleged fraud and misappropriation of bank funds. Meanwhile, spokespeople for Amba...