The Central Bureau of Investigation (CBI) questioned Jai Anmol Anil Ambani on March 13 as part of an investigation into an alleged bank fraud totaling Rs 228 crore related to Reliance Home Finance Ltd. Jai Ambani, who previously held the position of director at the company, arrived at the CBI headquarters in New Delhi and underwent interrogation for approximately 6.5 hours. Following this session, he has been asked to return for additional questioning.

Details of the Allegations

The case was initiated by the CBI on December 6, 2025, following a complaint filed by the Union Bank of India. The complaint highlighted alleged financial irregularities that resulted in a wrongful loss amounting to Rs 228.06 crore. In addition to Jai Ambani, the investigation also names Ravindra Sudhalkar, unidentified individuals, and certain public officials. The allegations comprise criminal conspiracy, cheating, and misconduct within the operations of Reliance Home Finance.

Loan Account Declared NPA

Information concerning the company’s financial activities reveals that its loan account was marked as a Non-Performing Asset (NPA) in September 2019. Subsequently, the account was designated as fraudulent in October 2024. Reliance Home Finance had secured a total of Rs 5,572.35 crore in loans from 18 banks, financial institutions, non-banking financial companies, and corporate entities.

CBI Searches Conducted

On December 9, 2025, the CBI executed searches at two official locations associated with Reliance Home Finance Ltd., as well as in the residences of Jai Ambani and Ravindra Sudhalkar in Mumbai. During these searches, various incriminating documents were seized, which are believed to be linked to the ongoing investigation.

Ongoing Investigation

The inquiry into the alleged appropriation and misuse of funds from banks continues as the CBI delves deeper into the situation. Investigators are evaluating the extent of the financial irregularities and exploring any potential violations of regulatory standards within the company.

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