CBI investigates Reliance ADA Group for loan fraud
pre-market1 source ↓written by the desknot a recommendation
- loan fraud totaling
- ₹14,852 crore
The Central Bureau of Investigation (CBI) has filed cases against Reliance Home Finance and Reliance Commercial Finance for alleged bank loan fraud totaling ₹14,852 crore. Searches were conducted at the premises of Jai Anmol Ambani, among others, following a complaint from Union Bank of India regarding criminal conspiracy and cheating.
This development may impact market sentiment towards the Reliance ADA Group as investigations unfold.
Not investment advice. For informational purposes only.