Shares of Reliance Power fell nearly 3% on Thursday to ₹22.08, extending losses as investor sentiment weakened following fresh developments involving Anil Ambani. The decline came after Reliance Group Chairman appeared before the Central Bureau of Investigation (CBI) in Delhi for questioning in an alleged bank fraud case linked to Reliance Communications (RCOM). He is expected to be examined over two days, March 19 and 20, in connection with a case registered on a complaint by the State Bank of India. His appearance before CBI comes days after his eldest son, Jai Anmol Ambani, was questioned in connection with another bank fraud case. Officials said Jai Anmol was grilled for over six hours.
The CBI probe centres on alleged diversion and misuse of loan funds extended by SBI and a consortium of banks to Reliance Communications, once a major telecom player that later slipped into financial distress. CBI officials allege that funds meant for business operations were diverted, with irregularities flagged in how the loans were utilised. The agency is examining financial transactions, internal approvals and the end-use of funds as part of its investigation. In a statement, a spokesperson for Anil Ambani confirmed his appearance. "
Anil Ambani will be appearing before the Central Bureau of Investigation (CBI) in Delhi on 19th and 20th March, 2026 for examination, in connection with the FIR registered on the basis of a complaint filed by the State Bank of India regarding Reliance Communications Ltd. (RCOM)," the statement said."The appearance is in furtherance to Mr Ambani's commitment to extend full cooperation in the matter with all agencies," it added.The case stems from a complaint by SBI, which had flagged suspected financial irregularities after the telecom company defaulted on large loans. Reliance Communications had accumulated massive debt before entering insolvency proceedings, leaving lenders with significant exposure.