India investigation bureau files a criminal case against Anil Ambani, the brother of Asia’s richest man

The criminal case against Reliance Communications, its former director, Anil Ambani, and several other people follows a fraud complaint from the State Bank of India. -- PHOTO: REUTERS

NEW DELHI (Bloomberg): The Central Bureau of Investigation said it registered a criminal case against Reliance Communications Ltd., its former director Anil Ambani and several other people following a fraud complaint from the State Bank of India.

The SBI, the country’s biggest lender by asset size, alleged it faced the wrongful loss of 29.3 billion rupees ($335 million) after the accused engaged in a criminal conspiracy to misrepresent and sanction credit facilities in favor of the company, according to a statement on Saturday.