CBI books Anil Ambani, Reliance Capital in Rs 1,816 crore EPFO fraud case
The CBI registered a cheating case against Reliance Capital Ltd (RCL) and its ex-chairman Anil Ambani over an alleged Rs 1,816 crore loss to the EPFO.
The EPFO had invested Rs 2,500 crore in RCL's secured non-convertible debentures in 2013-14, which matured in 2023-24; RCL defaulted on repayment after its financial position deteriorated in 2019.
EPFO received Rs 1,492 crore after NCLT approval in 2024, leaving Rs 1,007 crore principal and Rs 809 crore interest unpaid.
The case was filed after the Enforcement Directorate shared findings of fraudulent transactions; Anil Ambani denied any wrongdoing.
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