Rs 14000 cr loan defaults in 2 cases under scanner
New Delhi: The CBI registered two FIRs against Anil Dhirubhai Ambani (ADA) group companies – Reliance Home Finance Ltd. (RHFL) and Reliance Commercial Finance Ltd – in separate bank fraud cases, naming Jai Anmol Anil Ambani in one of them and bringing alleged loan defaults worth Rs 14,852 crore under scanner, officials said Tuesday.
Following the registration of the FIR against Jai Anmol Anil Ambani, the son of industrialist Anil Ambani, the CBI teams carried out a search at his residence on the seventh floor of the Sea Wind building, Mumbai.
The CBI has named Jai Anmol Ambani, the then director of Reliance Home Finance Ltd (RHFL), along with former CEO Ravindra Sharad Sudhakar in connection with the case of allegedly cheating the Union Bank of India of Rs 228 crore.
In a separate case, the CBI has booked Reliance Commercial Finance Ltd (RCFL) and its former directors in a case of allegedly cheating Bank of Maharashtra to the tune of Rs 57 crore. Jai Anmol has not been named in this case.
The CBI also conducted searches in Bank of Maharashtra case at the premises of the RCFL and residence of its former director Devang Mody in Pune on Tuesday.
RHFL had availed loans to the tune of Rs 5572.35 crore from 18 banks and financial institutions including Union Bank of India, while RCFL availed loans to the tune of Rs 9,280 crore from 31 banks and financial institutions including Bank of Maharashtra, CBI spokesperson said in a statement.
“A thorough investigation will be conducted into allegations of defrauding all the banks and financial institutions by the accused companies,” the CBI spokesperson said. In the case against Jai Anmol, the CBI acted on a complaint from the erstwhile Andhra Bank (which merged into Union Bank of India in 2020), alleging that RHFL did not repay the credit availed from the bank that turned the account into a non-performing asset in 2019, they said.
“The CBI obtained search warrants from the court of Special Judge for CBI, Mumbai and has commenced searches at two official premises of Reliance Home Finance Ltd., residential premises of Jai Anmol Ambani…, the then Director of Reliance Home Finance Ltd. And residential premises of Ravindra Sudhalkar, all at Mumbai on 09.12.2025,” the CBI spokesperson said in a statement on Tuesday.
The case pertains to credit facilities worth Rs 450 crore availed by the company in 2015 from Andhra Bank’s SCF branch in Mumbai for business needs.
