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CBI Registers FIR Against Reliance Capital in Alleged ₹1,816 Crore EPFO Investment Fraud
['Salil Tiwari']
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The Central Bureau of Investigation (CBI) has registered an FIR against Reliance Capital Ltd (RCL), its former chairman Anil Ambani, unknown public servants and others in connection with an alleged investment fraud that is claimed to have caused a loss of over ₹1,816 crore to the Employees' Provident Fund Organisation (EPFO).
The FIR was registered on the basis of a complaint received from the EPFO under the Ministry of Labour and Employment.
According to the FIR, EPFO had invested ₹2,500 crore in non-convertible debentures issued by Reliance Capital between 2012 and 2013.
Including accrued interest of ₹808.67 crore, the total alleged wrongful loss has been pegged at ₹1,816.22 crore.
Earlier CBI cases against Reliance Group companiesThe CBI has previously registered seven FIRs against Reliance Communications Limited, Reliance Home Finance Limited, Reliance Commercial Finance Limited and Reliance Telecom Limited based on complaints filed by various public sector banks and the Life Insurance Corporation of India (LIC).