CBI registers fresh case against Reliance Capital, Anil Ambani

Former Reliance Capital Limited Anil Ambani. File. | Photo credit: Reuters

The Central Bureau of Investigation (CBI) has registered a fresh case against Reliance Capital Limited (RCAP), its former chairman Anil Ambani and others, alleging that they caused a loss of ₹2,684.57 crore to the Life Insurance Corporation of India (LIC).

The First Information Report (FIR) also names Satish Seth as the then CEO of the Reliance Anil Dhirubhai Ambani Group, besides unidentified government officials and others.

In its complaint, LIC said that from April 12, 2012 to March 9, 2018, it subscribed to five non-convertible debentures (NCDs) totaling ₹3,900 crore issued by RCAP for general corporate purposes, funding requirements and refinancing of existing debt.

Funds were diverted, CBI says

According to the CBI, the accused persons caused an unauthorized loss of ₹ 2,684.57 crore to LIC and corresponding unauthorized profit to themselves and other beneficiaries. She alleged that she had fraudulently induced LIC to invest in RCAP through misrepresentation and then fraudulently diverted the said funds.

The agency had earlier registered eight FIRs against Reliance Communications Limited, RCAP, Reliance Home Finance Limited, Reliance Commercial Finance Limited and Reliance Telecom Limited based on complaints received from various public sector banks, Employees’ Provident Fund Organization and LIC.

It has so far filed six chargesheets and arrested seven accused in these cases. “These cases are under investigation and are being monitored by the Honorable Supreme Court,” the agency said on Friday (September 18, 2026).

Published – 18 Sep 2026 22:49 IST