CBI Registers FIR Against Reliance Capital, Anil Ambani Over Alleged ₹2,684.57 Crore LIC Fraud Case
New Delhi, Sep 18: The Central Bureau of Investigation (CBI) has registered an FIR based on a written complaint received from Life Insurance Corporation of India (LIC) against Reliance Capital Limited (RCAP), Anil D. Ambani, former chairman of Reliance Capital, Satish Seth, Group Managing Director of Reliance Anil Dhirubhai Ambani Group (ADA Group), unknown public servants and others in an…
The Central Bureau of Investigation (CBI) has registered a First Information Report (FIR) against Reliance Capital Limited (RCAP), former chairman Anil D. Ambani, group managing director Satish Seth, and several others in an alleged fraud case reported by the Life Insurance Corporation of India (LIC), according to an official statement on Friday.
The alleged fraud amounts to Rs 2,684.57 crore, with the fraud occurring between April 12, 2012, and March 9, 2018. The LIC accused the accused persons of engaging in a criminal conspiracy and committing offenses such as cheating, criminal breach of trust, criminal misconduct, diversion, and misappropriation of funds. The investigation will examine the criminal conspiracy, trace the end-use and diversion of invested funds, and identify the roles of all persons involved, including public servants and private individuals.
The CBI has previously registered FIRs against other Reliance entities on complaints from public sector banks, including the State Bank of India, EPFO, and LIC, with six charge-sheets filed and seven persons arrested so far. Anil Ambani's spokesperson denies any wrongdoing and reserves all legal rights.
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