In a big blow for Anil Ambani, CBI has registered a criminal case against his son Jai Anmol in a banking fraud case linked to Reliance Housing Finance Limited (RHFL) as per a PTI report. This is the first time that a criminal case has been filed against Anil Ambani’s son. According to officials, the case also names RHFL, its former CEO and whole-time director Ravindra Sudhalkar, and unknown others, including unknown public servants. The complaint alleges cheating, criminal conspiracy and criminal misconduct that led to a wrongful loss of Rs 228.06 crore to the bank involved.
The written complaint sent to the CBI states that Jai Anmol Anil Ambani, Ravindra Sudhalkar and others were involved in actions that caused financial loss through irregularities in lending and repayment. The agency has taken up the case under charges related to fraud and misuse of position.CBI is expected to examine documents, loan accounts and internal records of RHFL as part of the investigation. Further questioning of company officials and bank personnel may follow as the probe moves ahead.
Few days ago, the Enforcement Directorate (ED) attached over 18 properties, fixed deposits, bank balance and shareholding in unquoted investments of Reliance Anil Ambani Group worth Rs 1,120 crore in the Reliance Home Finance Ltd (RHFL)-Reliance Commercial Finance Ltd (RCFL)-Yes Bank fraud case. According to ED officials, the attachment covers 18 immovable assets, including seven properties of Reliance Infrastructure Ltd., including the Reliance Centre at Ballard Estate in Mumbai, listed as the company’s registered office though no longer serving as its operational headquarters, a commercial office building in Chakala MIDC, Andheri (East), residential properties in Santacruz, and a guest house in the same area.
Two properties of Reliance Power Ltd were also attached, along with nine properties belonging to Reliance Value Services Pvt Ltd, notably 231 residential plots in Chennai and seven residential flats in Panvel.In addition to immovable assets, the ED has provisionally attached financial instruments across five group entities, reflecting the typical money-laundering process where funds are layered through various investment vehicles. Fixed deposits were attached from Reliance Value Services Pvt Ltd, Reliance Venture Asset Management Pvt Ltd, Phi Management Solutions Pvt Ltd, Adhar Property Consultancy Pvt Ltd, and Gamesa Investment Management Pvt Ltd.With the fresh attachment, the total value of assets linked to the Reliance Group under scrutiny now stands at Rs 10,117 crore.