India’s federal investigator opens criminal case against Anil Ambani, his company

Mumbai (Reuters) -INDIA’s Federal Investigation Agency said on Saturday that India’s largest bank filed a criminal case against Industrialist Anil Ambani and its company Reliance Communications LTD after a complaint about fraud.

The Indian State Bank claimed that Anil Ambani, the younger brother of Billionaire Mukesh Ambani, had defrauded the bank and damaged 30 billion Indian Rupine ($ 344 million).

In a press release, the Agency said that India’s Central Investigation Office Anil Ambani’s house in Mumbai’s house and the offices of the Reliance Communications, who are now bankrupt, said.

The Ambani spokesman told Reuters that the searches in his house ended this afternoon. “Mr. Ambani strongly rejects all the allegations and charges and will defend himself in accordance with all the allegations and accusations.” He said.

The agency said that Anil Ambani and his company abused and direct bank funds for purposes other than agreed.

An E -mail query to SBI was not answered immediately.

In his statement to a government source Reuters, India’s Executive Directorate also sought 35 places affiliated to Reliance Group as a part of the investigation into the allegation of public funds of money laundering and siphon.

Reliance Group did not respond to the request for comments at that time, but rejected a source allegations in the group.

($ 1 = 87.3260 Indian rupees)

(Reporting by Jayshree P Upadhyay. Editing by Mark Potter)