CBI books Anil Ambani’s son Jai in loan fraud case

The Central Bureau of Investigation (CBI) has registered separate cases against two Reliance Anil Dhirubhai Ambani (ADA) Group companies, Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL), on charges of alleged bank loan fraud. Among the accused in one case is Anil Ambani's son, Jai Anmol Ambani.

On Tuesday, the agency conducted searches on the premises of Jai and other accused persons. In the two cases, total alleged loan defaults involving all the lenders is worth Rs 14,852 crore. One FIR is against RHFL, its promoters or directors, and bank officials, based on a complaint from Union Bank of India, alleging criminal conspiracy, cheating and wrongful loss of Rs 228.06 crore.