CBI registers alleged ₹1,816.22-crore EPFO investment fraud case against Reliance Capital
The Central Bureau of Investigation (CBI) has registered a case against Reliance Capital Limited (RCL) for alleged EPFO investment fraud involving ₹1,816.22 crore, said the
The Central Bureau of Investigation (CBI) has registered a case against Reliance Capital Limited (RCL) for alleged EPFO investment fraud involving ₹1,816.22 crore, said the agency on Saturday (August 1, 2026). The First Information Report (FIR) is based on a complaint received by the CBI from the Employees’ Provident Fund Organisation (EPFO), Ministry of Labour & Employment, against the company, its former chairman Anil D. Ambani, unknown public servants and others, it said.
The funds involve ₹1,007.55 crore, along with an interest liability of ₹808.67 crore. The agency has invoked provisions alleging criminal conspiracy, cheating, criminal breach of trust and criminal misconduct. “It is alleged in the complaint that, during 2013 and 2014, Reliance Capital Limited (RCL) issued secured Non-Convertible Debentures (NCDs), in which the EPFO invested ₹2,500 crore through four portfolio managers including Reliance Capital Asset Management Limited,” said the CBI.
The NCDs were due to mature during 2023 and 2024. The accused persons indulged in fraudulent transactions and diversion of funds, resulting in the default in redemption of the NCDs by RCL. “Investigation has been taken up to identify the role of all persons involved, including public servants and private individuals, examine the alleged criminal conspiracy, and trace the end use of the invested funds,” it added. The CBI has earlier registered seven FIRs against Reliance Communications Limited, Reliance Home Finance Limited, Reliance Commercial Finance Limited, and Reliance Telecom Limited, following complaints lodged by various public sector banks and LIC.
The agency has so far filed four chargesheets and arrested seven accused persons in the Reliance ADA Group cases. These cases are under investigation, which is monitored by the Supreme Court.
The BriefWire