After RHFL, Jai Anmol Ambani, CBI Books Reliance Commercial Finance Ltd In Another Criminal Case

Fresh trouble mounts for the Reliance Anil Ambani Group after CBI registered a bank fraud against Reliance Commercial Finance Ltd, its promoters/directors and unknown bank officials, based on a complaint of Bank of Maharashtra on the allegations of criminal conspiracy. 

The Pune-headquartered public-sector bank has alleged criminal conspiracy, cheating and criminal misconduct by RCFL and thereby causing wrongful loss of Rs. 57.47 crores to the bank. 

"The loan account of M/s Reliance Commercial Finance Ltd. was declared NPA by the bank on 25.03.2020 and also as fraud on 04.10.2025 for causing wrongful loss of Rs 57.47 crores to Bank of Maharashtra. M/s RCFL was availing loans to the tune of Rs 9,280 crores from 31 Banks, FIs, NBFCs, and other parties, including Bank of Maharashtra," as per sources. 

Also Read: Who Is Jai Anmol Ambani? Criminal Case Filed Against Anil Ambani’s Son

Meanwhile, CBI has obtained warrants from the court of Special Judge for CBI, Mumbai and has commenced searches at official premises of the company M/s RCFL at Mumbai and residential premises of Devang Pravin Mody, Director of M/s Reliance Commercial Finance Ltd., in Pune on Tuesday.

Several incriminating documents have been observed and are now being taken into possession during searches being conducted.

This comes after the CBI booked Jai Anmol Ambani on the basis of a complaint filed by the Union Bank of India for alleged wrongful losses totalling Rs 228 crores. 

This is the first criminal case filed against the son of Anil Ambani, who was a former director at Reliance Home Finance Ltd. CBI has also booked Ravindra Sudhalkar ex-CEO and then whole time director m/s RHFL in the banking fraud case. 

Earlier, the ED had attached Anil Ambani Reliance Group's properties totalling over Rs 8,997 crore in the alleged bank fraud cause involving Reliance Communications Limited (RCom), Reliance Commercial Finance and Reliance Home Finance. The overall attachment related to the group has now reached Rs 10,117 crore.