New Delhi, March 21 The CBI on Saturday questioned two former group managing directors of Reliance ADA Group in connection with an alleged bank fraud of Rs 2,929.05 crore involving Reliance Communications Ltd and Anil Ambani, officials said.
In a separate case, the agency questioned Sanjay Dangi, an advisor at Authum Investment and Infrastructure Ltd, in connection with an alleged fraud of more than Rs 57 crore involving Reliance Commercial Finance Ltd and the Bank of Maharashtra, they said.
Authum Investment and Infrastructure Ltd has taken over the assets of Reliance Commercial Finance Ltd and Reliance Home Finance Ltd, which are under investigation.
Officials alleged that financial institutions and banks suffered losses of over Rs 9,000 crore in connection with Reliance Commercial Finance Ltd and Reliance Home Finance Ltd.
The agency recently questioned Anil D Ambani, an "accused" in the Reliance Communications case registered on a complaint by the State Bank of India, for two days.
According to the FIR, based on an SBI complaint, Reliance Communications had outstanding dues of over Rs 40,000 crore to various lenders, with SBI alone facing an exposure of Rs 2,929 crore, as per 2018 figures.
A CBI spokesperson said an FIR was registered on August 21, 2025, on SBI’s complaint alleging fraud of Rs 2,929.05 crore.
He said the former managing directors of Reliance ADA Group – Gautam Doshi and Sateesh Seth – appeared before the investigating officer at the CBI headquarters here on Saturday and were examined.
Another former Group Managing Director, Amitabh Jhunjhunwala, was examined earlier this week, on March 18, the spokesperson said.
In a statement issued in 2025, Ambani’s spokesperson said the SBI complaint pertained to matters dating back over a decade.
At the time, Ambani was a non-executive director with no role in day-to-day operations, the statement said.
It added that the matter is sub judice before the National Company Law Tribunal (NCLT) and other judicial forums, including the Supreme Court.
Ambani has challenged SBI’s declaration before the competent forum, it said.