Prashant Bhushan petitions to various agencies for registering case against Anil Ambani by CBI for huge bank frauds. Demands cancellation of passport of Anil Ambani

Prashant Bhushan filed a petition to CBI, CVC, RBI, MEA and MoF

Citing various public sector banks notices for huge debts, noted lawyer Prashant Bhushan petitioned to various Government agencies for registering a case against debt-ridden industrialist Anil Ambani by Central Bureau of Investigation (CBI) for bank frauds and cheating. In a detailed complaint of 39 pages pointing out the bank cheating of Anil Ambani, Bhushan also demanded cancellation of Anil Ambani’s passport to prevent from fleeing India. Prashant Bhushan filed a petition to CBI, CVC (Central Vigilance Commission), RBI (Reserve Bank of India), Ministry of External Affairs (MEA), Ministry of Finance (MoF) pointing out that public sector banks have declared a fraud by Anil Ambani through his firms Reliance Communication Ltd, Reliance Telecom Ltd and Reliance Infratel Ltd.

State bank of India, Union Bank of India and Indian Overseas Bank has declared Reliance Communication Ltd, Reliance Telecom Ltd and Reliance Infratel Ltd’s banks accounts as “fraud”, said Bhushan in his detailed complaint to the agencies. He also cited a recent Delhi High Court order on the debts of Anil Ambani led companies.

In 2018, CVC also issued a similar circular, said Bhushan demanding registration of the case against Anil Ambani for cheating banks of more than Rs.86,000 crores.

Prashant Bhushan in this complaint pointed out that Reliance Communication debt crossed Rs.49,000 crore, Reliance Telecom’s debt crossed Rs.24,000 crore and Reliance Infratel’s debt crossed Rs.12,000 crore and demanded that Ministry of External Affairs must cancel the passport of Anil Ambani to prevent from fleeing the country. Many in industrial sector observers that Anil Ambani won’t rush to London (like Vijay Mallya) as he is facing troubles there to Chinese banks approached London Court to recover dues. A few months ago London Court had ordered to pay 717 million dollars (Rs.5400 crore)[1].

Prashant Bhushan pointed out that as per the RBI circular, CBI must register a criminal case if the amount of the fraud in banks is more than Rs.50 crore. Banks must alert CBI’s headquarters if the fraud is above than Rs.50 crore, as per the RBI circular dated July 1, 2016. In 2018, CVC also issued a similar circular, said Bhushan demanding registration of the case against Anil Ambani for cheating banks of more than Rs.86,000 crores.

“It is further requested that Mr Anil Ambani’s passport is to be immediately cancelled. This becomes all the more necessary in view of the past instances of Mr Nirav Modi and Vijay Mallya fleeing the country in order to escape investigation and prosecution,” demanded Prashant Bhushan in his 39-page complaint to the agencies.

References:

[1] London Court orders Anil Ambani to pay 717 million dollars (Rs.5400 crores) to Chinese Banks within 21 days – May 23, 2020, PGurus.com