Motorcycle rider, aged 19, perishes from a fall of 21 metres off a DASH overpass near Shah Alam, according to authorities.

The Central Bureau of Investigation (CBI) in India has opened a criminal case against tycoon Anil Ambani, following a complaint from the State Bank of India (SBI). The investigation centres around allegations of fraud, with SBI claiming it suffered a loss of 29.29 billion rupees (RM1.4 billion) due to the actions in question.

The SBI complaint pertains to matters dating back more than 10 years. While SBI has already withdrawn proceedings against five other Non-Executive Directors, Anil Ambani has been singled out. The allegation is that Anil Ambani and his former telecom firm Reliance Communications misappropriated bank funds.

Yesterday, the agency conducted searches at premises linked to Reliance Communications and Anil Ambani's residence. Anil Ambani's spokesperson has stated that he "strongly denies all allegations and charges" and "will duly defend himself". The spokesperson also mentioned that Anil Ambani was a Non-Executive Director of Reliance Communications at the time the SBI complaint pertains to, with no involvement in the day-to-day management.

The transactions in question were in violation of the terms of the loans from SBI. The investigation is regarding the actions of Anil Ambani and Reliance Communications with SBI loans. It's important to note that this case does not involve the business interests of Anil Ambani's older brother, Asia's richest man, Mukesh Ambani.

Anil Ambani has business interests in sectors such as power and defense. In December 2018, India's Supreme Court dismissed calls for an investigation into the controversial jet deal, stating there was no substantial material to suggest commercial favoritism. However, this recent investigation by the CBI marks a significant development in the ongoing saga.

Both Anil Ambani and Indian Prime Minister Narendra Modi have denied these allegations. Despite the withdrawal of proceedings against other Non-Executive Directors, Anil Ambani has been selectively singled out by SBI. The exact date when the CBI in India investigated Anil Ambani is not publicly specified.

This case will be subjected to a thorough investigation by the Central Bureau of Investigation. Anil Ambani was last in the public spotlight seven years ago following accusations by Indian politician Rahul Gandhi regarding the purchase of Rafale jets from France. As the investigation unfolds, the public will be closely watching to see how this latest development in Anil Ambani's career unfolds.

Motorcycle rider, aged 19, perishes from a fall of 21 metres off a DASH overpass near Shah Alam, according to authorities.