India, Aug. 1 -- The Central Bureau of Investigation (CBI) registered a First Information Report (FIR) against Reliance Capital Limited (RCL), former Chairman Anil D Ambani, unknown public servants and other persons in relation to alleged diversion of Rs 1,816.22 crore belonging to Employees' Provident Fund Organisation. The FIR was registered on Friday, on a complaint by the EPFO ministry. It was alleged that the respondents had caused a wrong gain/wrong loss of Rs 1,007.55 crore plus interest of Rs 808.67 crore by committing offences of criminal conspiracy, cheating, criminal breach of trust, and criminal misconduct. According to the FIR, during the financial year 2013 and 2014, RCL issued secured Non-convertible Debentures (NCDs), in which EPFO had invested Rs 2,500 crore through four portfolio managers including Reliance Capital Asset Management Limited.
Published by HT Digital Content Services with permission from Millennium Post.