New Delhi, August 1, 2026 (Yes Punjab News)
The Central Bureau of Investigation (CBI) has registered a case against Reliance Capital Limited, its former Chairman Anil Ambani, unidentified public servants and other persons in connection with alleged irregularities involving Employees’ Provident Fund Organisation (EPFO) investments worth Rs 1,816.22 crore.
The agency said the FIR was registered on the basis of a complaint received from the EPFO under the Ministry of Labour and Employment. The case involves allegations of criminal conspiracy, cheating, criminal breach of trust and criminal misconduct.
According to the CBI, the alleged offences caused a wrongful loss of Rs 1,007.55 crore, along with an interest liability of Rs 808.67 crore.
The agency said Reliance Capital had issued secured Non-Convertible Debentures (NCDs) during 2013 and 2014, in which EPFO invested Rs 2,500 crore through four portfolio managers, including Reliance Capital Asset Management Limited. The debentures were scheduled for maturity in 2023 and 2024.
The CBI has alleged that fraudulent transactions and diversion of funds led to the default in redemption of the NCDs, resulting in the claimed financial loss to EPFO.
The investigation will examine the role of all individuals involved, including public and private persons, and trace the utilisation of the invested funds, the agency said.
Reacting to the FIR, a spokesperson for Anil Ambani said the case relates to Reliance Capital Limited and noted that Ambani served as the company’s Non-Executive Director and Chairman from 2005 until November 2021, when the Reserve Bank of India superseded the company’s board and appointed an administrator.
“Ambani denies any wrongdoing, whatsoever, and reserves all rights available to him in law,” the spokesperson said.
The CBI also said it has previously registered seven FIRs against other Reliance ADA Group companies, including Reliance Communications Limited, Reliance Home Finance Limited, Reliance Commercial Finance Limited and Reliance Telecom Limited, based on complaints from public sector banks and LIC.
The agency said four charge sheets have been filed and seven accused persons arrested in those cases, which are currently under investigation and being monitored by the Supreme Court.
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