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Anil Ambani denies any wrongdoing, stating he was non-executive chairman from 2005 until RBI superseded the board in Nov 2021.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