CBI charges Indian industrialist Anil Ambani and his company with $386M bank fraud.

The CBI has launched a criminal investigation against Indian businessman Anil Ambani and his company, Reliance Communications, over allegations of a ₹2,929 crore ($386 million) fraud involving the State Bank of India. The CBI conducted searches at Anil Ambani's residence and company offices. SBI alleges misuse of funds and misrepresentation to secure loans. Ambani denies the allegations, claiming he was not involved in day-to-day operations at the time. The case is pending before several judicial forums, including the Supreme Court.