CBI Registers Fresh Case Against Reliance Capital, Anil Ambani
The agency is tracing alleged fund diversion after LIC said it lost Rs 2,684.57 crore on RCAP debentures, officials said.
- On Friday, the Central Bureau of Investigation registered a case against Reliance Capital Limited , former chairman Anil Ambani, and former group managing director Satish Seth for an alleged Rs 2,684.57-crore fraud involving Life Insurance Corporation of India investments.
- Between April 12, 2012, and March 9, 2018, the LIC alleges it subscribed to five non-convertible debentures issued by RCAP, totaling Rs 3,900 crore for "general corporate purposes, funding requirements and refinancing of existing debt."
- Officials claim the accused "entered a criminal conspiracy" and used "misrepresentation" to induce the investment, then "fraudulently diverted the said funds," causing a "wrongful loss to the tune of Rs 2,684.57 crore to LIC."
- The CBI is now conducting a broader investigation to identify roles of public servants and private individuals, while the Supreme Court monitors the ongoing cases.
- This FIR follows eight previous cases the agency registered against various Reliance entities, though Ambani has consistently maintained he has done no wrong regarding the allegations.
14 Articles
14 Articles
Anil Ambani Denies Wrongdoing as CBI Registers New FIR Against Reliance Capital over Alleged ₹2,684 Cr Loss to LIC
Get latest articles and stories on India at LatestLY. In response to a newly registered FIR by the Central Bureau of Investigation (CBI), spokesperson for Anil Ambani on Friday denied any wrongdoing, stating that the matter pertains strictly to Reliance Capital Limited (RCAP). India News | Anil Ambani Denies Wrongdoing as CBI Registers New FIR Against Reliance Capital over Alleged ₹2,684 Cr Loss to LIC.
Anil Ambani, RCAP Under CBI Scanner For Alleged Rs 2,684 Crore LIC Fraud
The CBI has registered a case against Reliance Capital Limited (RCAP), its former chairman Anil Ambani, and others for an alleged Rs 2,684.57-crore fraud. The case stems from a complaint by the Life Insurance Corporation of India (LIC) regarding investments in RCAP's non-convertible debentures, alleging criminal conspiracy, misrepresentation, and fraudulent diversion of funds causing significant loss to LIC.
CBI registers FIR against Anil Ambani, Reliance Capital over Rs 2,684.57 crore fraud - OrissaPOST
New Delhi: The Central Bureau of Investigation (CBI) has registered an FIR based on a written complaint received from Life Insurance Corporation of India (LIC) against Reliance Capital Limited (RCAP), Anil D. Ambani, former chairman of Reliance Capital, Satish Seth, Group Managing Director of Reliance Anil Dhirubhai Ambani Group (ADA Group), unknown public servants and […]
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