The Central Bureau of Investigation (CBI) has registered a fresh case against industrialist Anil Ambani and Reliance Communications for allegedly cheating Bank of Baroda and causing a wrongful loss of more than 2,220 crore rupees to it. It is the second case registered by the Agency based on the complaint given by the Bank of Baroda for offences of conspiracy, cheating and criminal misconduct.

The allegations in the FIR are that Bank of Baroda has suffered this loss of this amount due to the loans availed by Reliance Communication, which were allegedly diverted and misutilised by creating fictitious transactions with related parties. CBI, in a statement, said that after registration of this case, searches were conducted at the residence of Anil Ambani and the registered offices of the company.

It added that during searches, various documents connected with these loan transactions have been recovered. CBI has already registered another case against Reliance Communications based on a complaint lodged by the SBI.