Will Anil Ambani go to jail again? ED and CBI tightened the screws together, know the whole matter

The law is tightening its grip on veteran industrialist Anil Ambani. Central investigating agency Enforcement Directorate (ED) has increased the tension of Anil Ambani by arresting two former senior officials of Reliance Group. The arrested officials include Amitabh Jhunjhunwala and Amit Bapna, who are considered very close and trusted associates of Anil Ambani.

Major action in loan fraud case

This action of the Enforcement Directorate has been taken in the loan fraud case related to Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL). According to officials of the investigating agency, both these officers are accused of embezzling bank loans by using fake or shell companies. Amitabh Jhunjhunwala was the director of Reliance Capital Limited from 2003 to 2019, which is the holding company of these two companies.

Officers detained after questioning

ED sources said that Jhunjhunwala and Bapna were interrogated at length, but after not getting satisfactory answers, they were taken into custody under the Prevention of Money Laundering Act (PMLA). The agency is now presenting them before the court and demanding remand for detailed interrogation. It is believed that the arrest of these two may reveal many more secrets related to the financial transactions of Reliance Group.

CBI has also tightened its grip: LIC defrauded of crores?

Anil Ambani’s troubles are not limited to ED alone. The Central Bureau of Investigation (CBI) has also recently registered a new criminal case against industrialist Anil Ambani and Reliance Communications Limited (RCom). He is accused of allegedly causing a huge loss of Rs 3,750 crore to the Life Insurance Corporation of India (LIC).

Forensic audit revealed fraud

This action of CBI has started after a forensic audit report. The report claims that Reliance Communications embezzled its funds and hid the true financial condition of the company. Not only this, by showing false figures, LIC was instigated to buy debentures at higher prices, which ultimately caused huge loss to the exchequer and the money of the general public. At present both the agencies are investigating this matter in depth.