Hello and welcome to the details of India investigator files criminal case against tycoon Anil Ambani and now with the details
Nevin Al Sukari - Sana'a - Anil Ambani’s spokesperson said the tycoon 'strongly denies all allegations and charges' and 'will duly defend himself'. — Reuters pic
MUMBAI, Aug 24 —India’s national investigative bureau opened a criminal case against tycoon Anil Ambani after receiving a complaint from the country’s biggest bank alleging fraud, the agency said yesterday.
Anil, the younger sibling of Asia’s richest man Mukesh Ambani, has business interests that range from power to defence.
The State Bank of India (SBI) alleged Anil Ambani and his former telecom firm Reliance Communications “misappropriated” bank funds by entering into transactions that were in violation of the terms of the loans.
SBI claims it was hit with a loss of 29.29 billion rupees (RM1.4 billion) as a result of their actions.
The Central Bureau of Investigation said it had registered a case and that the bank’s complaint would be subjected to “thorough investigation”.
The agency searched premises linked to Reliance Communications and Anil Ambani’s residence yesterday.
Ambani’s spokesperson said the tycoon “strongly denies all allegations and charges” and “will duly defend himself”.
“The complaint filed by State Bank of India (SBI) pertains to matters dating back more than 10 years. At the relevant time, Mr. Ambani was a Non-Executive Director of the company, with no involvement in the day-to-day management,” the spokesperson said.
“It is pertinent to note that SBI, by its own order, has already withdrawn proceedings against five other Non-Executive Directors. Despite this, Mr. Ambani has been selectively singled out.”
Anil Ambani was last public spotlight seven years ago after Indian politician Rahul Gandhi accused Indian Prime Minister Narendra Modi and him of dodgy dealings related to the purchase of Rafale jets from France—allegations that both denied.
India’s Supreme Court in December 2018 dismissed calls for an investigation into the controversial jet deal, saying it did “not find any substantial material on record to show that this is a case of commercial favouritism to any party by the Indian government”. — AFP
These were the details of the news India investigator files criminal case against tycoon Anil Ambani for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at Malay Mail and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.
