CBI registers alleged ₹1,816.22-crore EPFO investment fraud case against Reliance Capital
The CBI has registered a case against Reliance Capital Limited and its former chairman Anil D. Ambani for an alleged ₹1,816.22-crore fraud involving EPFO investments. The investigation focuses on the diversion of funds from secured Non-Convertible Debentures that were meant for employee provident funds.
Why it matters
This case highlights significant corporate governance failures and the potential loss of retirement savings for employees, drawing scrutiny from the Supreme Court.
The Central Bureau of Investigation (CBI) has registered a case against Reliance Capital Limited (RCL) for alleged EPFO investment fraud involving ₹1,816.22 crore, said the agency on Saturday (August 1, 2026).
The First Information Report (FIR) is based on a complaint received by the CBI from the Employees’ Provident Fund Organisation (EPFO), Ministry of Labour & Employment, against the company, its former chairman Anil D. Ambani, unknown public servants and others, it said.
The funds involve ₹1,007.55 crore, along with an interest liability of ₹808.67 crore. The agency has invoked provisions alleging criminal conspiracy, cheating, criminal breach of trust and criminal misconduct.
“It is alleged in the complaint that, during 2013 and 2014, Reliance Capital Limited (RCL) issued secured Non-Convertible Debentures (NCDs), in which the EPFO invested ₹2,500 crore through four portfolio managers including Reliance Capital Asset Management Limited,” said the CBI.
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