In a significant development, the Supreme Court on Tuesday sought responses from the Centre, CBI, ED, Anil Ambani and the Anil Dhirubhai Ambani Group (ADAG) on a PIL seeking a court-monitored probe into alleged massive banking and corporate fraud involving the ADAG and its group companies.
After the State Bank of India, Bank of India has classified the loan account of insolvent Reliance Communications as fraudulent and named its former director, tycoon Anil Ambani, citing alleged fund diversion in 2016, according to a regulatory filing. State-owned Bank of India granted a Rs 700 crore loan in August 2016 to Reliance Communications for its ongoing capital and operational expenditure and repayment of existing liabilities.
State Bank of India has decided to classify the loan account of beleaguered telecom firm Reliance Communications as "fraud" and to report the name of its erstwhile director -- Anil Ambani to the Reserve Bank of India (RBI), according to a regulatory filing. Reliance Communications in a regulatory filing said that it has received a letter dated June 23, 2025 from the State Bank of India (SBI) to this effect.
The Central Bureau of Investigation on Friday informed the Delhi high court that its appeal against the acquittal of former telecom minister A Raja and 16 others in the 2G spectrum allocation case was 'ripe for hearing'.
The Supreme Court on Friday issued notice to Reliance Telecom on the recommendation of Environment Pollution Control Authority for imposition of a fine of Rs 1 crore (Rs 10 million) on it for laying optical fibres through Madhav National Park in Madh
Challenging the trial court's order charging it with criminal conspiracy, cheating and forgery, the Anil Dhirubhai Ambani Group-led company pleaded that it did not indulge in any wrongdoing and charges framed against it were 'wrong'.
The Supreme Court has asked the CBI to place before it the "files and notings" which purportedly suggest that its Director Ranjit Sinha wants stopping of whole trial against Reliance Telecom Ltd (RTL) and three top executives of the Reliance ADAG, who are accused in the 2G spectrum scam case.
A bench of justices G S Singhvi and V Gopala Gowda said the issue raised by the accused needs to be heard before taking up other pleas challenging summoning of 13 witnesses including Reliance Anil Dhirubhai Ambani Group chairman Anil Ambani and his wife Tina Ambani.
The Delhi high court will pronounce its verdict on Friday on whether to admit the Central Bureau of Investigation's (CBI) appeal challenging the acquittal of former telecom minister A Raja, firms and others in the 2G spectrum allocation 'scam' case.
Admitting the Central Bureau of Investigation appeal, the high court said there are "some contradictions" in the trial court's judgment which require "deeper examination".
The Central Bureau of Investigation (CBI) began making submissions on Monday on its appeal before the Delhi high court challenging the acquittal of accused persons, including former telecom minister A Raja, and firms in the 2G spectrum allocation scam case in December 2017.
Justice Dinesh Kumar Sharma said the parties shall file brief written submissions not exceeding five pages.
The CBI contended before the Delhi high court on Tuesday that there were glaring illegalities in the trial court judgment that acquitted former telecom minister A Raja and others in the 2G spectrum allocation scam case.
Chinese banks -- China Development Bank, China Exim Bank and Industrial and Commercial Bank of China (ICBC) -- will get a lion share of 30 per cent or Rs 7,000 crore in RCOM/RTL/RITL resolution plan, with the DoT getting nothing if the proposed plan goes ahead.
CBI alleged that Reliance Telecom structured Swan Telecom as its front company.
The government on Tuesday invited financial bids from all the nine applicants, including Bharti Airtel, Vodafone, Tata Teleservices and RCom, who had applied for participating in 3G spectrum auction.
UV Asset Reconstruction Company Ltd has made the highest bid of Rs 16,000 crore to buy Anil Ambani group's Reliance Communications and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). Last year it was the highest bidder for taking over Aircel's assets for an upfront payment of Rs 150 crore. Surajeet Das Gupta and Dev Chatterjee dig deeper to find out more about this little known company.
The auction is the biggest ever sale of 2G and 3G airwaves.
The agency had earlier alleged that the company had sold its 9.1% stake to Delphi for Rs 10 crore --a rate much lower than the prevalent market price.
RCom and Tata Teleservices are the top net losers of subscribers under mobile number portability (MNP) services.
The three companies for sale are Reliance Communications, Reliance Telecom and Reliance Infratel.
With the State Bank of India moving the National Company Law Tribunal's Delhi bench to enforce the personal guarantees of Ambani, it will delay the recovery of dues by the Chinese banks which won a UK court order in May this year.
The Delhi high court on Tuesday allowed the Central Bureau of Investigation and the Enforcement Directorate's pleas seeking an early hearing into the appeals challenging the acquittal of former telecom minister A Raja and others in the 2G spectrum allocation case.
RTL had challenged Special Judge O P Saini's decision to put it on trial, saying it never held stakes in excess of 9.9 per cent in Swan Telecom and that too was divested prior to the grant of licences in 2008.
The government on Wednesday said two Anil Ambani companies have been fined a total of Rs 5.49 crore (Rs 54.9 million) for shutting down rural telephone services during 2010-11 in violation of the USOF agreement.
In its report tabled in Parliament, the CAG said the Swan Telecom's application was 'in effect against the intent and spirit' of the Unified Access Service Licencing guidelines as it was among those beneficiaries which 'suppressed facts, disclosed incomplete information and submitted fictitious documents' to the department of telecommunication.
The case is likely to come up for hearing on Monday.
'The transactions were done in a circuitous route deliberately and most of the companies involved in it are Reliance ADA group firms.'
The Department of Telecom (DoT) has decided to do a special audit of Reliance Communications' (RCom) telecom licence companies.
GSM operators in the country added 8.97 million users during April 2009 (excluding Reliance Telecom), after recording the highest mobile subscriber addition of 11.2 million last month.
Sunil Bharti Mittal's Bharti Airtel retained the top rank with a market share of 33.21 per cent and a total user base of 77.48 million. Vodafone-Essar added 1.87 million and maintained a market share of 23.41 per cent. COAI, which does not include Reliance Telecom, estimates RT added at least 370,000 subscribers in the month,
According to the latest data released by Cellular Operators' Association of India, the total GSM subscriber base rose to 257,85 million, up from 249.35 million in November 2008, a growth of about 3.25 per cent in December.
ADAG, Mahindra BT, L&T Infotech may team up with PEs.
In insolvency proceedings, Ericsson will be treated as only an operational creditor and may end up losing the Rs 550 crore
The district court of The Hague, Netherlands, has upheld the decision of the arbitration panel that VSNL must allow Flag Telecom an access to Flag Europe Asia cable landing station in Mumbai. Flag Telecom (now known as Reliance Globalcom), a subsidiary of Anil Ambani's Reliance Telecom, wanted access to Mumbai landing staion of Flag Europe Asia cable (FEA), a submarine fiber optic cable that runs from England to Japan, for the purpose of enhancing its capacity.
43 rounds of bidding has taken place.
GSM operators (excluding Reliance Telecom) in the country added 6.3 million subscribers in August, taking the total number of users to 225.6 million. In July, the total GSM subscriber base in the country was 219.30 million.
The total outstanding dues against Bharti Airtel is Rs 11,235.50 crore.
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