The case stems from a complaint filed by Union Bank of India (formerly Andhra Bank) against Reliance Home Finance Ltd., then director Jai Anmol Ambani, and former CEO Ravindra Sharad Sudhakar, alleging that the company failed to repay credit facilities
CBI said that the agency obtained search warrants from the Special Judge for CBI cases in Mumbai and began searches on December 9. Representational Pic/File
The Central Bureau of Investigation (CBI) carried out searches at the Mumbai residence of Jai Anmol Ambani, son of industrialist Anil Ambani, after registering an FIR against him and Reliance Home Finance Ltd. (RHFL) for allegedly cheating Union Bank of India of Rs 228 crore, an official statement said on Tuesday.
The case stems from a complaint filed by Union Bank of India (formerly Andhra Bank) against Reliance Home Finance Ltd., then director Jai Anmol Ambani, and former CEO Ravindra Sharad Sudhakar, alleging that the company failed to repay credit facilities, leading the bank to classify the account as a non-performing asset (NPA) in 2019, it said.
In a statement, the CBI said that the agency obtained search warrants from the Special Judge for CBI cases in Mumbai and began searches on December 9, 2025 at two official premises of Reliance Home Finance Ltd., the residential premises of Jai Anmol Ambani, and the residence of Ravindra Sudhalkar, the former CEO and Whole-Time Director of RHFL.
According to the complaint, Reliance Home Finance Ltd. had availed loans amounting to Rs 5,572.35 crore from 18 banks, financial institutions, NBFCs and corporate bodies, including Union Bank. The CBI said a detailed investigation will be carried out to look into allegations of fraud against all lenders involved.
The agency obtained search warrants from the Special CBI Court in Mumbai and began searches on 9 December 2025 at two official premises of Reliance Home Finance Ltd., as well as the residences of Jai Anmol Ambani, son of Anil Ambani and former director of the company, and Ravindra Sudhalkar, former CEO and whole-time director. Both properties are located in Mumbai.
The CBI said several incriminating documents have been found and seized during the searches, which are still underway.
Reliance Home Finance Ltd. or Jai Anmol Ambani were yet to issue an official statement in the matter.
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
