MUMBAI: CBI lodged a cheating case against Reliance Capital Ltd (RCL), its ex-chairman Anil Ambani and unknown public servants in the alleged Rs 1,816 crore loss caused to Employees’ Provident Fund Organisation (EPFO).CBI alleged that EPFO invested Rs 2,500 crore in RCL’s secured non-convertible debentures in 2013-14 and the company subsequently defaulted on repayment.Earlier, the issue was settled before National Company Law Tribunal (NCLT), but recently ED shared its investigation finding of RCL’s fraudulent transactions. Based on this, EPFO subsequently filed a fraud case with CBI against Ambani and RCL.A spokesperson of Anil Ambani said, “The FIR registered by CBI pertains to Reliance Capital Limited. Ambani served as a non-executive director/chairman of the Board of Reliance Capital Limited from 2005 until Nov 2021, when Reserve Bank of India superseded the board of directors of the company and appointed an administrator. Ambani denies any wrongdoing, whatsoever, and reserves all rights available to him in law.”EPFO administered the Employees’ Provident Fund, Pension Scheme and Deposit Linked Insurance Scheme. The fund accumulations with EPFO were vested in Central Board of Trustees (CBT), the statutory governing body which held, managed and invested such funds in trust for benefit of the subscribers.RCL’s financial position deteriorated in 2019, and the company subsequently went into Corporate Insolvency Resolution Process.Join conversationView All Comments →Share your thoughts in the commentsInsightfulAgreeDisagreeSkepticalConcerningPromisingWorth ReadingBig DevelopmentPost CommentBe respectful · TOI community guidelinesIn 2021, EPFO lodged its claim before the resolution professional and, after NCLT approval in 2024, EPFO received Rs 1,492 crore of its total dues. The remaining amount of Rs 1,007 crore, along with Rs 809 crore interest, remained unpaid.ED, which probed RCL in a separate case, recently shared its findings with EPFO.EPFO said in its complaint to CBI that “the conduct of and transactions entered into Reliance Capital Limited and the persons in charge of its management during the period 7 Dec 2019 to 6 Dec 2021 disclose various fraudulent transactions…”Get the latest India News and Live updates. Download the TOI app.About the AuthorVijay V SinghVijay V Singh has worked for various print and online publications before joining The Times of Indiain 2008. He covers crime and takes a keen interest in criminology. His hobbies include travel (especially on bikes), reading and cricket.Read MoreEnd of ArticleFollow Us On Social MediaVideosRam Temple Skit Row: Rahul Gandhi, Pappu Yadav, Awadhesh Prasad BookedPaper Leak Law Passed, But Can Tougher Punishment Alone Stop India’s Endless Exam Leak Crisis?’Pakistan-Based Handles, Suvendu On Target’: Bengal STF Uncovers Shocking ‘Jaish Module”PM Has The Audacity Of Forgiving’: Rahul Gandhi Slams Modi’s Video On Jantar Mantar ‘Abuses”Terrorists Asked Caste, Then Shot’: Family’s Shocking Claim In Kulgam AttackPM Modi Inaugurates ₹5,000 Crore Bhogapuram Airport, Launches ₹17,900 Crore Andhra Projects’Nitin Gadkari Is Scared’: Tehseen Poonawalla Claims House Arrest Before E20 Hunger Strike30+ Dead, 2 Dozen Stuck In Russia As Centre Continues Efforts To Bring Them Home SafelyThousands March With Constitution, Jharkhand Witnesses Massive Student Agitation Over JPSC Exam Leak’I Was Influenced’: Jantar Mantar Protest Accused Apologises As PM Modi Offers Forgiveness123PhotostoriesFrom working non-stop for three days, sleeping in a vanity van during Kasturi to opening up about her late ex-husband’s alcohol addiction: Shubhangi Atre on life and careerWalking after 40? The way you walk may matter more than how long you walk, say fitness expertsThat mouth ulcer has been there for over three weeks? Doctor says waiting any longer could mean missing an important warning signNot planning a trip to Goa in monsoon? 7 things you are missing out on as a travellerInternational Friendship Day: 10 gift ideas for your best friends10 baby names inspired by Roman mythologyVaping may be creating the next wave of lung cancer: Oncologists explain why new-age smoking habits are more dangerous than many people thinkWhat is the best month to start a garden? Here’s what experts sayInside Surbhi Chandna’s warm bohemian-themed home: Elegant décor, cozy corners, and moreHow to select the right knife and understand its usage123Hot PicksHurricane IrmaRuchika SinghRRB Group D Admit CardNEET selective edit windowCommonwealth Games LiveUS work permit feeE20 petrol debateAssam floodsKanwar Yatra 2026Top TrendingSaurav DasBengal JeM Terrorist ArrestedJaisalmer Military Station AccidentCM VijayDehradun Teacher SuicideAnkit Sharma Murder CaseAam Aadmi PartyShraddha Walkar Murder CaseMumbai Building CollapseStock Market Up

MUMBAI: CBI lodged a cheating case against Reliance Capital Ltd (RCL), its ex-chairman Anil Ambani and unknown public servants in the alleged Rs 1,816 crore loss caused to Employees’ Provident Fund Organisation (EPFO).CBI alleged that EPFO invested Rs 2,500 crore in RCL’s secured non-convertible debentures in 2013-14 and the company subsequently defaulted on repayment.Earlier, the issue was settled before National Company Law Tribunal (NCLT), but recently ED shared its investigation finding of RCL’s fraudulent transactions. Based on this, EPFO subsequently filed a fraud case with CBI against Ambani and RCL.A spokesperson of Anil Ambani said, “The FIR registered by CBI pertains to Reliance Capital Limited. Ambani served as a non-executive director/chairman of the Board of Reliance Capital Limited from 2005 until Nov 2021, when Reserve Bank of India superseded the board of directors of the company and appointed an administrator. Ambani denies any wrongdoing, whatsoever, and reserves all rights available to him in law.”EPFO administered the Employees’ Provident Fund, Pension Scheme and Deposit Linked Insurance Scheme. The fund accumulations with EPFO were vested in Central Board of Trustees (CBT), the statutory governing body which held, managed and invested such funds in trust for benefit of the subscribers.RCL’s financial position deteriorated in 2019, and the company subsequently went into Corporate Insolvency Resolution Process.Join conversationView All Comments →Share your thoughts in the commentsInsightfulAgreeDisagreeSkepticalConcerningPromisingWorth ReadingBig DevelopmentPost CommentBe respectful · TOI community guidelinesIn 2021, EPFO lodged its claim before the resolution professional and, after NCLT approval in 2024, EPFO received Rs 1,492 crore of its total dues. The remaining amount of Rs 1,007 crore, along with Rs 809 crore interest, remained unpaid.ED, which probed RCL in a separate case, recently shared its findings with EPFO.EPFO said in its complaint to CBI that “the conduct of and transactions entered into Reliance Capital Limited and the persons in charge of its management during the period 7 Dec 2019 to 6 Dec 2021 disclose various fraudulent transactions…”Get the latest India News and Live updates. Download the TOI app.About the AuthorVijay V SinghVijay V Singh has worked for various print and online publications before joining The Times of Indiain 2008. He covers crime and takes a keen interest in criminology. His hobbies include travel (especially on bikes), reading and cricket.Read MoreEnd of ArticleFollow Us On Social MediaVideosRam Temple Skit Row: Rahul Gandhi, Pappu Yadav, Awadhesh Prasad BookedPaper Leak Law Passed, But Can Tougher Punishment Alone Stop India’s Endless Exam Leak Crisis?’Pakistan-Based Handles, Suvendu On Target’: Bengal STF Uncovers Shocking ‘Jaish Module”PM Has The Audacity Of Forgiving’: Rahul Gandhi Slams Modi’s Video On Jantar Mantar ‘Abuses”Terrorists Asked Caste, Then Shot’: Family’s Shocking Claim In Kulgam AttackPM Modi Inaugurates ₹5,000 Crore Bhogapuram Airport, Launches ₹17,900 Crore Andhra Projects’Nitin Gadkari Is Scared’: Tehseen Poonawalla Claims House Arrest Before E20 Hunger Strike30+ Dead, 2 Dozen Stuck In Russia As Centre Continues Efforts To Bring Them Home SafelyThousands March With Constitution, Jharkhand Witnesses Massive Student Agitation Over JPSC Exam Leak’I Was Influenced’: Jantar Mantar Protest Accused Apologises As PM Modi Offers Forgiveness123PhotostoriesFrom working non-stop for three days, sleeping in a vanity van during Kasturi to opening up about her late ex-husband’s alcohol addiction: Shubhangi Atre on life and careerWalking after 40? The way you walk may matter more than how long you walk, say fitness expertsThat mouth ulcer has been there for over three weeks? Doctor says waiting any longer could mean missing an important warning signNot planning a trip to Goa in monsoon? 7 things you are missing out on as a travellerInternational Friendship Day: 10 gift ideas for your best friends10 baby names inspired by Roman mythologyVaping may be creating the next wave of lung cancer: Oncologists explain why new-age smoking habits are more dangerous than many people thinkWhat is the best month to start a garden? Here’s what experts sayInside Surbhi Chandna’s warm bohemian-themed home: Elegant décor, cozy corners, and moreHow to select the right knife and understand its usage123Hot PicksHurricane IrmaRuchika SinghRRB Group D Admit CardNEET selective edit windowCommonwealth Games LiveUS work permit feeE20 petrol debateAssam floodsKanwar Yatra 2026Top TrendingSaurav DasBengal JeM Terrorist ArrestedJaisalmer Military Station AccidentCM VijayDehradun Teacher SuicideAnkit Sharma Murder CaseAam Aadmi PartyShraddha Walkar Murder CaseMumbai Building CollapseStock Market Up


CBI files EPFO cheating case against Anil Ambani

MUMBAI: CBI lodged a cheating case against Reliance Capital Ltd (RCL), its ex-chairman Anil Ambani and unknown public servants in the alleged Rs 1,816 crore loss caused to Employees’ Provident Fund Organisation (EPFO).CBI alleged that EPFO invested Rs 2,500 crore in RCL’s secured non-convertible debentures in 2013-14 and the company subsequently defaulted on repayment.Earlier, the issue was settled before National Company Law Tribunal (NCLT), but recently ED shared its investigation finding of RCL’s fraudulent transactions. Based on this, EPFO subsequently filed a fraud case with CBI against Ambani and RCL.A spokesperson of Anil Ambani said, “The FIR registered by CBI pertains to Reliance Capital Limited. Ambani served as a non-executive director/chairman of the Board of Reliance Capital Limited from 2005 until Nov 2021, when Reserve Bank of India superseded the board of directors of the company and appointed an administrator. Ambani denies any wrongdoing, whatsoever, and reserves all rights available to him in law.EPFO administered the Employees’ Provident Fund, Pension Scheme and Deposit Linked Insurance Scheme. The fund accumulations with EPFO were vested in Central Board of Trustees (CBT), the statutory governing body which held, managed and invested such funds in trust for benefit of the subscribers.RCL’s financial position deteriorated in 2019, and the company subsequently went into Corporate Insolvency Resolution Process.

Share your thoughts in the comments