Anil's attempts to put together deals that would pare RCOM's debt have come to naught.
He was unable last year to find a buyer to take a 26 percent stake in the company.
Plans to list RCOM's tower arm have not come to fruition either, while a deal that would merge the tower business with a rival's collapsed unexpectedly in September.
Since the sacking of the former telecoms minister in November, the main share index is down 9 percent, while Reliance Comm has lost 41 percent.
"It is a challenging time for him," said KK Mital, head of portfolio management services at Globe Capital in New Dehli. "The group needs good luck. But, unfortunately, it does not seem to be coming its way," he said.
Image: Anil Ambani, centre, returns after being questioned by the CBI officials.