CBI Books Anil Ambani for Causing EPFO Loss of over Rs 1,800 Cr
The agency alleges Reliance Capital caused a Rs 1,816.22 crore loss to the Employees' Provident Fund Organisation through fraudulent transactions and fund diversion.
- On Friday, July 31, the Central Bureau of Investigation registered a First Information Report against Reliance Capital Limited and former Chairman Anil Ambani based on an Employees' Provident Fund Organisation complaint alleging investment fraud.
- During 2013 and 2014, the EPFO invested ₹2,500 crore in secured Non-Convertible Debentures issued by Reliance Capital Limited, which defaulted on redemption when instruments matured during 2023 and 2024.
- Investigators allege fraudulent transactions and fund diversion caused a total loss of ₹1,816.22 crore—₹1,007.55 crore principal plus ₹808.67 crore interest. The CBI invoked provisions for criminal conspiracy, cheating, and breach of trust.
- A spokesperson for Anil Ambani denied any "wrongdoing" in relation to the FIR, stating he "reserves all rights available to him in law" regarding the investigation.
- This case adds to seven previous FIRs the CBI registered against Reliance ADA Group entities including Reliance Communications Limited and Reliance Home Finance Limited, following complaints from public sector banks and monitored by the Supreme Court.
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The CBI has filed a case against Anil Ambani and Reliance Capital in connection with a loss of ₹1,800 crore to the EPFO. However, Anil Ambani has denied all these allegations and said he has committed no wrongdoing.
CBI books Anil Ambani for causing EPFO loss of over Rs 1,800 cr
New Delhi, Aug 1: The CBI has registered an FIR against Reliance Capital Limited (RCL) and its former chairman Anil D Ambani for allegedly causing a loss of Rs 1,816.22 crore to the EPFO, officials said on Saturday. Ambani, however, denied any wrongdoing, according to a statement issued by his spokesperson. The action follows a July 21 complaint from the Union Ministry of Labour and Employment alleging commission of offences of cheating, crimina…
CBI books Reliance ADAG company, directors in ₹1,816 crore EPFO loss case
MUMBAI: The Central Bureau of Investigation (CBI) registered a First Information Report (FIR) against Reliance Capital Ltd (RCL), its directors, key managerial personnel and others for allegedly causing a wrongful loss of ₹1,816
CBI registers EPFO investment fraud case of over Rs 1816 cr against Anil Ambani, Reliance Capital
FIR alleges wrongful loss of Rs 1,007.55 cr, with interest liability of Rs 808.67 cr, by committing criminal conspiracy, cheating, criminal breach of trust & criminal misconduct.
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