The Central Bureau of Investigation (CBI) on Saturday (May 9, 2026) searched 17 premises in Mumbai in connection with three cases registered against Reliance Telecom Ltd., Reliance Commercial Finance Limited and Reliance Home Finance Ltd., and their directors.

“Searches have also revealed that multiple intermediary companies were operating from the same address,” said the agency.

Over the last few months, the CBI has registered seven cases against the Group entities, based on the complaints lodged by various Public Sector Banks and LIC in connection with alleged frauds involving thousands of crores of rupees. The total quantum of alleged loss in these cases is ₹27,337 crores, it said.

The Bombay High Court on Friday (October 3, 2025) dismissed a petition filed by industrialist Anil Ambani challenging the State Bank of India’s (SBI) decision classifying his and Reliance Communications’ accounts as fraud.

A bench of Justices Revati Mohite Dere and Neela Gokhale said there was no merit in the plea. A detailed copy of the judgement was not available immediately.

The SBI had last year classified the accounts as fraud, alleging misappropriation of funds by entering into transactions that violated the terms of loans extended by it.

Mr. Ambani moved the HC, arguing that the bank had not followed the principles of natural justice as it did not grant him a hearing.

Certain documents, based on which the classification orders were passed, were not provided to him initially, and furnished only after six months, the petition claimed.

The bank this year lodged a complaint with the Central Bureau of Investigation (CBI), which searched premises linked to Reliance Communications and Ambani’s residence.

The CBI said it had registered a complaint after the State Bank of India claimed a loss of ₹2,929.05 crore resulting from alleged misappropriation by Reliance Communications and Anil Ambani.