CBI Books Anil Ambani and Reliance Capital in ₹1,816 Crore EPFO Fund Shock

The Central Bureau of Investigation has registered a fresh FIR against Reliance Capital Limited, its former chairman Anil D. Ambani, unknown public servants and other unidentified persons in an alleged EPFO investment fraud case worth ₹1,816.22 crore. The case was filed on July 31, 2026, based on a written complaint from the Employees’ Provident Fund Organisation under the Ministry of Labour and Employment. The alleged offences include criminal conspiracy, cheating, criminal breach of trust and criminal misconduct.

According to the CBI, the case goes back to 2013 and 2014, when EPFO invested ₹2,500 crore in secured Non-Convertible Debentures issued by Reliance Capital. These investments were made through four portfolio managers, including Reliance Capital Asset Management Limited. The debentures were supposed to mature during 2023 and 2024.

The CBI has alleged that fraudulent transactions and diversion of funds led to Reliance Capital defaulting on the redemption of these debentures. The agency says this caused a wrongful loss of ₹1,007.55 crore to EPFO, along with an interest liability of ₹808.67 crore, taking the total alleged loss to ₹1,816.22 crore.

The investigation will now focus on identifying the role of all persons involved, including private individuals and public servants. The CBI will also examine the alleged criminal conspiracy and trace where the EPFO-invested money was finally used.

This case is serious because EPFO manages the retirement savings of workers across India. When such a large amount of provident fund money is allegedly lost through failed investments and suspected fund diversion, the issue becomes a matter of public concern and trust.

The CBI also said it had earlier registered seven FIRs against other Reliance ADA Group companies, including Reliance Communications, Reliance Home Finance, Reliance Commercial Finance and Reliance Telecom, based on complaints from public sector banks and LIC. So far, four chargesheets have been filed and seven accused persons have been arrested in those related cases, which are being monitored by the Supreme Court.