CBI probes Jai Ambani's role in Yes Bank fraud case
The CBI is digging deeper into the Yes Bank loan fraud case and has now brought Jai Anmol Ambani under investigation, following earlier charges against his father, Anil Ambani.
Back when this happened, Jai was an executive director at Reliance Capital.
The focus right now is on large investments made by Reliance Nippon Mutual Fund in Yes Bank's AT-1 bonds and in non-convertible debentures of Morgan Credits Pvt Ltd during that period.
Thirteen people named so far
According to the CBI, these investment moves were heavily influenced by Anil Ambani as part of a deal with former Yes Bank boss Rana Kapoor.
The agency says this led to Yes Bank taking on risky debentures and commercial papers—costing the bank nearly ₹2,800 crore.
Investigators are also looking at Jai's role in these decisions, especially since he reportedly didn't consult their Japanese partners.
Thirteen people have been named so far, including Kapoor's family members. The agency is also probing the role of another daughter of the Kapoors, Rakhee.