Archive · 31 Oct 2025
Cobrapost Alleges Rs 41,921 Crore Financial Fraud at Anil Ambani's Reliance Group
A group called Cobrapost says that Anil Ambani's companies have taken a lot of money, over $5 billion, that they shouldn't have.
They claim this money was taken from big companies he controls and moved to other companies connected to him.
They also say that more than a billion dollars were brought into India in a way that looked like cheating, using companies in places like Singapore and other countries.
Cobrapost believes this might even be money laundering, a serious crime.
They also allege that some of this money was used for fancy things like a yacht.
The Reliance Group strongly denies these claims, stating that the report is old and based on misinformation.
They believe it's a planned attack to lower their stock prices and help rivals buy their company's assets.
Investigative portal Cobrapost alleges Anil Ambani's Reliance Group committed financial fraud exceeding Rs 41,921 crore since 2006.
Cobrapost claims Rs 28,874 crore raised from loans, IPOs, and bonds was siphoned from listed group firms to promoter-linked companies.
An additional $1.535 billion (Rs 13,047 crore) was allegedly routed into India fraudulently through offshore entities in multiple countries.
A transaction involving Singapore-based EMITS receiving $750 million from NexGen Capital and transferring it to Reliance Innoventures is cited as potential money laundering.
The Reliance Group denies the allegations, calling it a malicious, agenda-driven campaign to crash stock prices and facilitate asset acquisition.
- Who
- Investigative portal Cobrapost, Anil Ambani's Reliance Group, its listed companies (Reliance Communications, Reliance Capital, Reliance Home Finance, Reliance Commercial Finance, Reliance Corporate Advisory Services), promoter-linked companies, offshore entities in Singapore, Mauritius, Cyprus, British Virgin Islands, US, and UK.
- What
- Cobrapost alleges a financial fraud exceeding Rs 41,921 crore through diversion of funds from listed group companies to promoter-linked entities and fraudulent routing of funds through offshore entities. Allegations also include misuse of corporate funds for personal luxury purchases.
- When
- Since 2006, with specific transactions cited including a $750 million transfer to EMITS and a $20 million yacht purchase in 2008. The report was released on a Thursday.
- Where
- Funds allegedly siphoned from listed group firms in India and routed through offshore entities in Singapore, Mauritius, Cyprus, British Virgin Islands, US, and UK.
- Why
- Cobrapost alleges fund diversion, use of offshore entities for fraudulent routing of funds, potential money laundering, and misuse of corporate funds for personal luxury purchases. Reliance Group claims the allegations are part of a malicious campaign to crash stock prices and facilitate asset acquisition.
Cobrapost Allegations
Reliance Group Response
Nature of Allegations
Cobrapost Allegations
Cobrapost alleges a massive financial fraud exceeding Rs 41,921 crore through fund diversion from listed group companies and fraudulent routing via offshore entities, including potential money laundering and misuse of funds for personal luxury.
Reliance Group Response
Reliance Group dismisses the allegations as a recycled, agenda-driven corporate hit job by a 'dead platform resurrected' with commercial interests to acquire its assets.
Basis of Investigation
Cobrapost Allegations
Cobrapost's findings are based on filings and orders from the Ministry of Corporate Affairs, SEBI, NCLT, RBI, and foreign jurisdictions, citing violations of multiple acts.
Reliance Group Response
Reliance Group claims the allegations are based on 'old, publicly available information already examined by the CBI, ED, SEBI and other agencies'.
Motive for Publication
Cobrapost Allegations
Cobrapost's report aims to expose financial wrongdoing and the 'total erosion of public wealth'.
Reliance Group Response
Reliance Group alleges the publication is a 'deliberate campaign of calumny, disinformation, and character assassination' aimed at crashing stock prices and engineering panic to acquire its assets.
- Investigating Portal
- Cobrapost
- Alleged Fraud Amount
- Rs 41,921 crore (approx. $5.05 billion)
- Alleged Fund Diversion (Domestic)
- Rs 28,874 crore from listed group firms to promoter-linked companies
- Alleged Fund Diversion (Overseas)
- $1.535 billion (Rs 13,047 crore) routed through offshore entities
- Key Offshore Transaction Cited
- Singapore-based EMITS received $750 million from NexGen Capital, transferred to Reliance Innoventures
- Alleged Misuse of Funds
- Purchase of a $20 million yacht by Anil Ambani in 2008
- Alleged Violations
- Companies Act, FEMA, PMLA, SEBI Act, Income Tax Act
Sources
Cobrapost Alleges Rs 28,874 Crore Fraud By Anil Ambani-Led Group, Company Denies Claim
Cobrapost alleges ₹41,921 crore fraud by Anil Ambani’s Reliance Group
Anil Ambani’s Reliance Group Denies Cobrapost Allegations Of Fraud; Calls It ‘Deliberate Campaign Of Calumny, Disinformation’
CBI Probes Role Of Anil Ambani’s Son Jai Anmol And Rana Kapoor’s Daughter In ₹2,796 Crore Yes Bank–ADA Group Fraud Case
CBI Chargesheet Alleges ₹2,796 Crore Yes Bank Fraud Involving Anil Ambani’s ADA Group And Rana Kapoor
Cobrapost lens on Anil Ambani-led Reliance