CBI files fresh FIR against Anil, RCom on LIC complaint alleging 3.7k cr loss | India News


CBI files fresh FIR against Anil, RCom on LIC complaint alleging 3.7k cr loss

NEW DELHI: The Central Bureau of Investigation (CBI) has filed a fresh FIR against Anil Ambani and Reliance Communications, besides some yet-to-be-identified bank officials, on an LIC complaint alleging wrongful loss of Rs 3,750 crore.The case was registered on April 1 for offences of conspiracy, cheating, misappropriation and offences under the Prevention of Corruption Act.“It has been alleged that the LIC was fraudulently induced to subscribe to Non Convertible Debentures (NCDs) worth Rs 4,500 crore based on false representations made by M/s Reliance Communications Ltd and its management regarding the financial health of the company, and security and asset cover offered to LIC while subscribing to NCDs,” the CBI said in a statement.LIC and CBI claimed that they filed a complaint on the basis of a forensic audit report dated October 15, 2020, which alleged that RCOM and its management had resorted to the misuse of funds raised from banks and financial institutions and routed funds through subsidiaries.It also claimed misuse of sale invoice financing, discounting of fictitious bills, systematic siphoning of funds through inter-company deposits/shell related entities, creating and writing off of fictitious debtors and receivables and gross overstatement of security.This is the fourth FIR against Anil Ambani by the CBI. It had earlier registered three cases against him and Reliance Communications.



Source link

  • Related Posts

    South Korea working with India to secure Hormuz, security of key maritime routes essential for survival of both nations: President Lee | India News

    South Korean President Lee Jae Myung As he arrived in India for a State visit, South Korean President Lee Jae Myung said Koreas and India must work closely as emerging…

    PM Modi shedding crocodile tears: Opposition | India News

    NEW DELHI: The opposition on Sunday accused PM Narendra Modi of shedding “crocodile tears” over women’s quota, as it stepped up its attack on him for delivering a “political speech…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    After bill defeat, government counters Congress ‘false narrative’ with FAQs | India News

    After bill defeat, government counters Congress ‘false narrative’ with FAQs | India News

    South Korea working with India to secure Hormuz, security of key maritime routes essential for survival of both nations: President Lee | India News

    South Korea working with India to secure Hormuz, security of key maritime routes essential for survival of both nations: President Lee | India News

    IPL 2026 | ‘My bat is the prize’: Shreyas Iyer reveals dressing-room contest behind Punjab Kings run-fest | Cricket News

    IPL 2026 | ‘My bat is the prize’: Shreyas Iyer reveals dressing-room contest behind Punjab Kings run-fest | Cricket News

    IPL 2026: Arya–Connolly carnage rewrites IPL history, trail only Kohli–ABD in elite list | Cricket News

    IPL 2026: Arya–Connolly carnage rewrites IPL history, trail only Kohli–ABD in elite list | Cricket News

    Working with India to secure Hormuz, security of key maritime routes essential for survival of both nations: President Lee | India News

    Working with India to secure Hormuz, security of key maritime routes essential for survival of both nations: President Lee | India News

    PM Modi shedding crocodile tears: Opposition | India News

    PM Modi shedding crocodile tears: Opposition | India News