MUMBAI: India’s financial crime-fighting agency has filed new cases against Reliance Home Finance and Reliance Commercial Finance, the agency said on Tuesday.
The cases, filed after complaints by two state-owned lenders, are part of ongoing probes, it said in a statement.
The cases include one about an alleged fraud by Reliance Home Finance involving 2.28 billion rupees (about $25.4 million) on a complaint by Union Bank of India and another against Reliance Commercial Finance involving 574.7 million rupees on a complaint by Bank of Maharashtra, the Central Bureau of Investigation said.
The banks had classified the loan account of these companies as fraud in 2024 and 2025, requiring them to file complaints with investigators.
The companies were owned by the Anil Ambani-owned Reliance group until fiscal year 2023, when they were acquired Authum Investment & Infrastructure through a debt resolution process.
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The federal agency is investigating two separate cases against Reliance Home Finance and Reliance Commercial involving alleged frauds of 55.72 billion rupees and 92.8 billion rupees, respectively. The fresh cases are part of these probes, the CBI said.
A query sent to Anil Ambani’s Reliance group was not answered immediately. The group has previously denied the charges leveled by federal agency in the ongoing cases.
Separately, another former Anil Ambani’s Reliance group company, Reliance Communications, told the exchanges on Tuesday that Union Bank of India has classified its loan account as fraud.
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