Jai Anmol Anil Ambani Named in Rs 228-Crore Banking Fraud
The Central Bureau of Investigation (CBI) has filed a criminal case against Jai Anmol Anil Ambani, son of industrialist Anil Ambani, along with former Reliance Housing Finance (RHFL) CEO Ravindra Sudhalkar, in connection with a Rs 228.06-crore banking fraud. This marks the first time Jai Anmol has been implicated in a criminal case. The investigation follows a complaint alleging cheating, criminal conspiracy, and misconduct by RHFL’s top officials.
According to the complaint by Union Bank of India, RHFL approached the bank for financial facilities, presenting financial statements and projections to secure loans of up to Rs 450 crore. While the bank relied on these representations, RHFL failed to repay installments, leading to the account being classified as an NPA in September 2019. A forensic audit by Grant Thornton revealed systematic diversion and misappropriation of funds, with loans used for purposes other than intended.
The complaint further states that Jai Anmol and Sudhalkar were responsible for RHFL’s day-to-day operations during the period in question. They allegedly entered into a criminal conspiracy to mislead lenders, divert funds, and commit breach of trust. The CBI will examine loan accounts, company records, and question officials as part of the ongoing investigation.
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