Archive · 19 Sep 2026
CBI Files FIR Over Alleged Reliance Capital LIC Fraud
The CBI has opened a case about money invested by LIC in Reliance Capital.
LIC invested ₹3,900 crore through five financial instruments between 2012 and 2018.
LIC says it was given misleading information before making the investments.
It also alleges that some of the money was improperly diverted.
LIC says this caused it to lose ₹2,684.57 crore.
The case names Reliance Capital, Anil Ambani, Satish Seth and others.
The CBI is checking how the money was used and who may have been responsible.
Anil Ambani says he did nothing wrong.
The allegations have not yet been proved in court.
The CBI registered an FIR against Reliance Capital, Anil Ambani, Satish Seth, unidentified public servants and others.
LIC invested ₹3,900 crore in five Reliance Capital non-convertible debentures between April 12, 2012, and March 9, 2018.
LIC alleges it was induced to invest through misrepresentation and that the funds were later diverted or misappropriated.
The alleged conduct caused LIC a wrongful loss of ₹2,684.57 crore and generated corresponding gains for the accused and other beneficiaries.
The CBI is tracing the funds and examining the roles of those involved; Ambani denies wrongdoing and the allegations remain unproven.
- Who
- The Central Bureau of Investigation is investigating Reliance Capital Limited, Anil Ambani, Satish Seth, unidentified public servants and others following a complaint by the Life Insurance Corporation of India.
- What
- The CBI registered an FIR over an alleged ₹2,684.57-crore loss connected to LIC investments in Reliance Capital.
- When
- The investments were made from April 12, 2012, to March 9, 2018; the FIR was reported on September 18, 2026.
- Where
- The reports were datelined New Delhi and Mumbai; they do not specify where the alleged diversion occurred.
- Why
- LIC alleges that misrepresentation induced it to invest and that the invested funds were subsequently fraudulently diverted or misappropriated.
LIC and CBI Allegations
Anil Ambani’s Response
Whether wrongdoing occurred
LIC and CBI Allegations
LIC alleges criminal conspiracy, misrepresentation, cheating, criminal breach of trust, criminal misconduct, fund diversion or misappropriation, and falsification of accounts.
Anil Ambani’s Response
Anil Ambani denies any wrongdoing and says he reserves all rights available to him in law.
Use of invested funds
LIC and CBI Allegations
LIC alleges that the funds were fraudulently diverted, causing it a wrongful loss of ₹2,684.57 crore and corresponding gains to the accused and other beneficiaries.
Anil Ambani’s Response
The reports do not provide a detailed response from Ambani addressing the alleged diversion of funds.
Status of the case
LIC and CBI Allegations
The CBI is investigating the alleged conspiracy, identifying those involved and tracing the funds’ end use or diversion.
Anil Ambani’s Response
Ambani’s denial reflects his position, while the allegations remain unproven because the investigation is ongoing.
- Alleged LIC loss
- ₹2,684.57 crore
- Total LIC investment
- ₹3,900 crore
- Investment instruments
- Five non-convertible debentures issued by Reliance Capital
- Investment period
- April 12, 2012, to March 9, 2018
- FIR basis
- A written complaint from the Life Insurance Corporation of India
- Alleged offences
- Cheating, criminal breach of trust, criminal misconduct, fund diversion or misappropriation, and falsification of accounts
- Investigation status
- The CBI is identifying the roles of public and private individuals and tracing the end use or diversion of the funds
Sources
CBI Files FIR Against Reliance Capital, Anil Ambani Over Rs 2,684-Cr LIC Fraud
CBI Registers FIR Against Reliance Capital, Anil Ambani Over Alleged ₹2,684.57 Crore LIC Fraud Case
CBI Case Against Reliance Capital, Anil Ambani Over LIC Investment 'Fraud'
CBI registers case against Anil Ambani, Reliance Capital in Rs 2,684-crore LIC investment fraud
CBI Registers FIR Against Reliance Capital, Anil Ambani Over Alleged ₹2,684.57 Crore LIC Investment Fraud Case
