Mumbai: The Central Bureau of Investigation (CBI) is carrying out searches at premises linked to industrialist Anil Ambani in connection with an alleged ₹2,000 crore bank fraud case, officials confirmed on Saturday. The agency stated that the raids followed the registration of a formal case but did not provide further details.

The development comes amid an ongoing probe by the Enforcement Directorate (ED), which had earlier issued a Look Out Circular (LoC) against Anil Ambani, chairman of the Anil Dhirubhai Ambani Group (ADAG), to prevent him from leaving India without prior clearance. The LoC was part of the ED’s investigation into an alleged ₹17,000-crore bank loan fraud involving the diversion and misappropriation of loans availed by various ADAG companies from a consortium of banks and financial institutions.

As part of the investigation, the ED had summoned Ambani for questioning on August 5. The current CBI action follows a report from the State Bank of India (SBI) regarding alleged irregularities in the loans extended to ADAG companies.