New Delhi, August 1, 2026 (Yes Punjab News)
The Central Bureau of Investigation (CBI) has registered an FIR against Reliance Capital Limited, its former chairman Anil Ambani, unidentified public servants and other unknown persons in connection with an alleged fraud involving Employees’ Provident Fund Organisation (EPFO) investments amounting to Rs 1,816.22 crore.
The case was registered on the basis of a written complaint received from the EPFO under the Ministry of Labour and Employment. The agency has alleged offences including criminal conspiracy, cheating, criminal breach of trust and criminal misconduct.
According to the CBI, the complaint relates to investments made by EPFO in secured Non-Convertible Debentures (NCDs) issued by Reliance Capital Limited during 2013 and 2014. EPFO had invested Rs 2,500 crore through four portfolio managers, including Reliance Capital Asset Management Limited.
The NCDs were scheduled to mature during 2023 and 2024. The agency alleged that fraudulent transactions and diversion of funds led to the failure of Reliance Capital to redeem the debentures, resulting in an alleged financial loss of Rs 1,007.55 crore along with an interest liability of Rs 808.67 crore.
“The investigation has been taken up to identify the role of all persons involved, including public servants and private individuals, examine the alleged criminal conspiracy, and trace the end use of the invested funds,” the CBI said in a statement.
The agency said it will investigate the movement and utilisation of the funds as well as the alleged involvement of different individuals and entities.
The CBI also referred to its earlier cases involving companies linked to the Reliance ADA Group, including Reliance Communications Limited, Reliance Home Finance Limited, Reliance Commercial Finance Limited and Reliance Telecom Limited. The agency said it has previously registered seven FIRs based on complaints from public sector banks and the Life Insurance Corporation of India.
In those cases, the CBI has filed four chargesheets and arrested seven accused persons. The investigations are being monitored by the Supreme Court, the agency said.
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