CBI Case Against Reliance Capital, Anil Ambani Over LIC Investment 'Fraud'
The FIR was registered on the basis of a written complaint received from the LIC against RCAP, Ambani, Seth, unidentified public servants and others, an official statement said.
The Central Bureau of Investigation has registered a case against Reliance Capital Limited and its former chairman Anil D. Ambani, following a complaint from the Life Insurance Corporation of India. The complaint alleges that Reliance Capital and Ambani, along with other accused, were involved in a fraud worth Rs 2,684.57 crore.
According to the FIR, the Life Insurance Corporation of India had invested Rs 3,900 crore in five non-convertible debentures issued by Reliance Capital between April 2012 and March 2018. The LIC alleged that the accused persons entered into a criminal conspiracy, committed offences of cheating, and misappropriated funds, causing a wrongful loss to LIC.
The CBI's FIR names Reliance Capital, Ambani, and Satish Seth, Group Managing Director of Reliance Anil Dhirubhai Ambani Group, as accused, along with unidentified public servants and others.
Brief written by urgent.news from NDTV, Free Press Journal — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
