CBI Charges Anil Ambani In Rs 2,796 Crore Yes Bank Fraud Case, ED Probe Widens To Rs 17,000 Crore Loan Irregularities

The Central Bureau of Investigation (CBI) has filed a chargesheet against industrialist Anil Ambani and several others in connection with alleged fraudulent transactions involving Reliance Group companies, Yes Bank, and firms linked to the family of the bank’s former CEO Rana Kapoor.

The agency has alleged that these dealings caused a loss of Rs 2,796 crore to Yes Bank.

In its chargesheet filed before a special court in Mumbai on Thursday, the CBI named Ambani, who is chairman of the Anil Dhirubhai Ambani (ADA) Group and director of Reliance Capital Limited, along with Rana Kapoor, his wife Bindu Kapoor, daughters Radha and Roshni Kapoor, and multiple companies including RCFL, RHFL (now Authum Investment and Infrastructure), RAB Enterprises, Imagine Estate, Bliss House, Imagine Habitat, Imagine Residence, and Morgan Credits Private Limited.

They have been booked under provisions of the Indian Penal Code (IPC) and the Prevention of Corruption Act.

The Case in Detail

The charges are linked to a wider investigation by the Enforcement Directorate (ED) into alleged loan fraud and money laundering amounting to over Rs 17,000 crore involving Ambani-led entities.

In August, the ED questioned Ambani for over nine hours at its headquarters in Delhi.

According to officials, Ambani sought seven days to submit additional documents and financial records to support his responses.

The ED’s probe stems from information shared by regulatory bodies like the National Housing Bank, SEBI, NFRA, and Bank of Baroda, which highlighted irregularities in loans issued by Yes Bank to Reliance Group firms between 2017 and 2019.

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Preliminary findings suggest that over Rs 3,000 crore was illegally diverted from Yes Bank through shell entities and group companies.

Officials also flagged several “red flags” in Yes Bank’s loan approvals, including backdated credit approvals, loans to financially weak entities, lack of due diligence, and diversion of funds to promoter-linked firms.

Investigators believe bribes were paid to Yes Bank officials, including Rana Kapoor, in exchange for these loans.

Wider Investigations into Reliance Group Firms

The probe is not limited to Yes Bank transactions. Investigators are also examining:

Reliance Communications, which has been accused of loan fraud worth Rs 14,000 crore, has been classified by SBI as “fraudulent” under RBI norms.

Reliance Infra, which allegedly diverted over Rs 10,000 crore through undisclosed related-party transactions. The company has clarified that its actual exposure was around Rs 6,500 crore, disclosed in financial statements, and that a settlement for full recovery has been reached through court-monitored mediation.

Reliance Mutual Fund’s investment of Rs 2,850 crore in Yes Bank AT-1 bonds, which were later written off, allegedly caused losses to public investors.