New Delhi: A Central Bureau of Investigation (CBI) team conducted searches at Reliance Communications director Anil Ambani’s Mumbai residence early Saturday (August 23) morning in connection with a bank fraud case.

The central agency has registered an FIR against Ambani, accusing him of involvement in a bank fraud that led to a loss of Rs 2,000 crore to the State Bank of India (SBI), per PTI.

A spokesperson said on Ambani's behalf that he “strongly denies all allegations and charges, and will duly defend himself”.

Saying that the SBI's complaint pertains to matters dating back to over ten years ago, the spokesperson said that at that time Ambani was a non-executive director of Reliance Communications “with no involvement in the day-to-day management”.

“It is pertinent to note that SBI, by its own order, has already withdrawn proceedings against five other non-executive directors. Despite this, Mr Ambani has been selectively singled out,” the spokesperson continued.

The CBI team from Delhi also raided other premises linked to Reliance Communications on Saturday.

The raids come after the Enforcement Directorate earlier this month questioned Ambani for nearly ten hours in a money laundering investigation looking into multiple bank loan fraud cases amounting to Rs 17,000 crore.

A lookout notice was issued against the businessman on August 1, which means that Ambani can no longer leave India without the permission of courts.

This story was updated with statements made by a spokesperson of Anil Ambani's.

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