CBI Books Anil Ambani’s Son in ₹228-Crore Bank Fraud Case
Reliance Home Finance accused of diverting loan funds taken from Union Bank of India
- CBI files FIR against Jai Anmol Ambani and Reliance Home Finance Ltd.
- Complaint alleges diversion and misuse of ₹450 crore credit limits.
- Loan account became NPA in 2019 after failure to repay instalments.
- Forensic audit shows misappropriation and fund siphoning, says bank.
GG News Bureau
New Delhi, 9th Dec: The CBI has filed a case against Jai Anmol Anil Ambani, son of industrialist Anil Ambani, along with Reliance Home Finance Ltd. (RHFL), in connection with an alleged cheating case that caused a ₹228-crore loss to Union Bank of India. The agency acted on a complaint filed by the bank, formerly known as Andhra Bank.
According to officials, the complaint names RHFL, Jai Anmol Ambani and director Ravindra Sharad Sudhakar for defaulting on credit limits worth ₹450 crore sanctioned by the bank’s SCF branch in Mumbai. The loan was issued for business operations and carried conditions on financial discipline, including timely repayment, interest servicing, and mandatory routing of sale proceeds through the bank.
The company allegedly failed to adhere to these conditions, leading to the account being classified as a non-performing asset (NPA) on September 30, 2019.
A forensic audit conducted by Grant Thornton for the period between April 2016 and June 2019 found that the funds borrowed from the bank were mis-apportioned, diverted, and siphoned off, the officials said. The bank alleged that the promoters and directors of RHFL “committed fraudulent misappropriation of funds through manipulation of accounts and criminal breach of trust”.
The CBI has booked the accused under charges related to cheating, criminal conspiracy and financial fraud, and further investigation is underway.
