CBI accuses Anil Ambani of cheating LIC of over ₹4,500cr
Business
Anil Ambani is facing fresh trouble as the CBI has accused him of cheating LIC out of over ₹4,500 crore.
The case centers on LIC's investments in Reliance Communications (RCOM) back in 2009 and 2012, money that was supposed to be safe but ended up with ₹3,750 crore remaining unpaid when RCOM defaulted on repayments by 2017.
FIR alleges Anil Ambani misled LIC
The FIR says Ambani, RCOM, and some unnamed officials misled LIC about RCOM's financial health and security.
A forensic audit later showed RCOM owed way more than it owned, raising big questions about those original promises.
This isn't an isolated incident either. CBI is already looking into other major loan frauds linked to Ambani across several big banks.