CBI names Anil Ambani in Reliance Capital NCD fraud probe
Anil Ambani, Reliance Group chairman, is in the spotlight after the Central Bureau of Investigation named him, Reliance Capital's former chairman, and former group managing director Satish Seth in a major fraud case.
LIC claims that between 2012 and 2018, Reliance Capital raised money through five non-convertible debentures (NCDs) but then used those funds for things they were not supposed to, causing huge losses.
Ambani has denied any wrongdoing.
CBI probes alleged LIC ₹2,684.57cr conspiracy
The CBI is digging into whether there was a criminal conspiracy to cheat LIC out of ₹2,684.57 crore.
They are looking at possible fraud and fund misuse, checking who did what and where the money went.
The investigation is serious: past cases against Reliance have already led to arrests and are being watched by India's Supreme Court.