6 months ago
2
The CBI has booked the lad of industrialist Anil Ambani, Jai Anmol Anil Ambani, and Reliance Home Finance Ltd. (RHFL) successful a lawsuit of alleged cheating successful Union Bank of India that caused a nonaccomplishment of ₹228 crore to the nationalist bank, officials said connected Tuesday (December 9, 2025).
The CBI acted connected a ailment from the Bank (erstwhile Andhra Bank) against Reliance Home Finance Ltd., Jai Anmol Anil Ambani and Ravindra Sharad Sudhakar, some directors successful RHFL, they said.
The institution had availed recognition limits to the tune of ₹450 crore from the bank's SCF subdivision successful Mumbai for concern needs, the ailment stated.
The slope had laid down the information to support fiscal subject including timely repayment, work of involvement and different charges and submission of presumption of information and different required papers successful clip and routing the full merchantability proceeds done the slope account.
The institution failed to wage the instalments to the slope and hence, the said relationship was classified arsenic a non-performing plus (NPA) connected September 30, 2019, the officials said.
A forensic introspection of the accounts was carried retired by Grant Thornton (GT), for a reappraisal play from April 1, 2016 to June 30, 2019, which showed that borrowed funds were mis-apportioned and considered arsenic diversion of funds, they said.
"The accused persons successful their capableness of erstwhile promoters /directors of the borrower Company committed fraudulent misappropriation of funds done manipulation of accounts and transgression breach of spot and diverted/siphoned disconnected the funds for the purposes different than the intent for which concern was extended," the slope alleged.
