India, April 2 -- The CBI on Wednesday registered a fresh case against industrialist Anil Ambani and Reliance Communications Ltd for allegedly causing a loss of Rs 3,750 crore to Life Insurance Corporation (LIC) of India, officials said.

The CBI has filed the case for the alleged offences of conspiracy, cheating and misappropriation and under the provisions of the Prevention of Corruption Act on a complaint from the LIC, making it the fourth case against the company and Anil Ambani, they said.

The agency has alleged that LIC was fraudulently induced to subscribe to Non-Convertible Debentures (NCDs) worth Rs 4500 crore between 2009 and 2012 on the basis of false representations made by Reliance Communications Ltd and its management regar...