A day after the Enforcement Directorate (ED) attached the Pali Hill residence of promoter and erstwhile chairman of Reliance Communications (RCoM) Anil Ambani, the Central Bureau of Investigation (CBI) registered a second case against M/s Reliance Communications on Thursday. The case is based on a complaint filed by Bank of Baroda, alleging conspiracy, cheating, and criminal misconduct, as well as abuse of official position under the Prevention of Corruption Act, against Ambani, M/s Reliance Communications, and others.The FIR alleges that Bank of Baroda suffered a loss of over Rs 2,220 crore due to loans availed by M/s Reliance Communications, which were allegedly diverted and misused through fictitious transactions with related parties. The company’s books of accounts were manipulated, and irregularities were concealed. The account was declared a non-performing asset in 2017.The Bombay High Court had stayed the declaration of the accounts as a fraud, based on a petition filed by Anil Ambani. However, the stay was vacated on February 23, 2026, after which Bank of Baroda lodged the complaint, prompting CBI to take up the case.CBI has already registered another case against M/s Reliance Communications based on a complaint lodged by the State Bank of India (SBI), the lead bank of a consortium of 11 banks. However, Bank of Baroda was not part of that consortium, and this case pertains to a different loan availed by Reliance Communications from Bank of Baroda, Vijaya Bank, and Dena Bank, which have since been merged with Bank of Baroda.Following the registration of the case, CBI conducted searches at Anil Ambani’s residence and the registered offices of M/s Reliance Communications. Various documents related to the loan transactions have been recovered, and the investigation is ongoing.