The full story of Anil Ambani EPFO Fraud

CBI filed an FIR against Reliance Capital Ltd (RCL), its directors, and key managerial personnel for causing a wrongful loss of ₹1,816.22 crore to EPFO.

EPFO invested ₹2,500 crore in RCL's secured Non-Convertible Debentures (NCDs) in 2013-2014 via four portfolio managers.

RCL defaulted after its credit rating was downgraded to D in September 2019.

EPFO recovered ₹1,492.45 crore after RCL was acquired by IndusInd International Holdings Limited (IHIL) in March 2025, leaving unrecovered principal of ₹1,007.55 crore and interest of ₹808.67 crore.

The complaint was based on ED findings that revealed serious deficiencies like diversion of funds and non-compliance with lending policies.

The CBI registered an FIR against Reliance Capital Ltd., former chairman Anil D. Ambani, and others in an alleged EPFO investment fraud involving Rs 1,816.22 crore.

The FIR, based on an EPFO complaint, alleges wrongful loss of Rs 1,007.55 crore to EPFO plus interest liability of Rs 808.67 crore, for offences including criminal conspiracy, cheating, criminal breach of trust, and criminal misconduct.

During 2013-2014, RCL issued secured NCDs in which EPFO invested Rs 2,500 crore via four portfolio managers including Reliance Capital Asset Management Limited; the funds were allegedly diverted and NCDs not redeemed on maturity.

The CBI has earlier registered seven FIRs against other Reliance ADA Group companies based on complaints from public sector banks and LIC, and has filed four charge sheets and arrested seven accused so far.

A spokesperson for Anil Ambani denied any wrongdoing, noting he was non-executive director and chairman of RCL until November 2021, when RBI superseded the board.

CBI filed an FIR against Anil Ambani for alleged wrongful loss of over Rs 1,800 crore.

The complaint was filed by the Employees' Provident Fund Organisation (EPFO), under the Ministry of Labour and Employment.

The FIR pertains to alleged financial irregularities causing loss to the EPFO.

CBI filed a cheating case against Reliance Capital Ltd (RCL), its ex-chairman Anil Ambani, and unknown public servants over alleged Rs 1,816 crore loss to EPFO.

EPFO invested Rs 2,500 crore in RCL's secured non-convertible debentures in 2013-14; RCL later defaulted on repayment.

The issue was previously settled before NCLT, but after ED shared findings of RCL's fraudulent transactions, EPFO filed a fraud case with CBI.

In 2024, after NCLT approval, EPFO received Rs 1,492 crore of its dues, leaving Rs 1,007 crore plus Rs 809 crore interest unpaid.

Anil Ambani denies any wrongdoing, stating he was non-executive chairman from 2005 until RBI superseded the board in Nov 2021.