Anil Ambani denies allegations following CBI action in bank fraud case, says he was ‘singled out’

Anil Ambani has denied all allegations of fraud after the Central Bureau of Investigation (CBI) searched his Mumbai residence and Reliance Communications offices following a complaint by State Bank of India (SBI). The bank alleged wrongful losses of Rs 2,929 crore linked to loans sanctioned to the telecom company. A forensic audit flagged fund diversion and questionable transactions with group firms. Ambani maintains he was not involved in management decisions and will challenge the charges in court.