Anil Ambani denies wrongdoing in CBI case over LIC loss
after close1 source ↓written by the desknot a recommendation
- to the Life
- $279.8 million loss
- was invested
- $406.5 million
The CBI has filed a case against Reliance Capital Limited (RCAP) and its former chairman over an alleged $279.8 million loss to the Life Insurance Corporation of India (LIC). LIC claims $406.5 million was invested in RCAP debentures, which were supposedly obtained through misrepresentation and later fraudulently diverted. Anil Ambani has denied any wrongdoing in this matter.
Not investment advice. For informational purposes only.