NEW DELHI: The Central Bureau of Investigation (CBI) grilled Anil Ambani's eldest son, Jai Anmol Ambani, for nearly five hours for a second consecutive day on Saturday in connection with an alleged Rs 228-crore fraud involving Union Bank of India, officials said.
Jai Anmol Ambani, the former director of Reliance Home Finance Limited (RHFL), was questioned at the federal agency's headquarters in connection with the bank fraud case, in which he has been booked along with RHFL’s former CEO and whole-time director Ravindra Sudhakar, among others, they said.
The agency had registered a criminal case against RHFL, a company of the Reliance ADA Group, its promoters and directors, and unknown bank officials based on a complaint filed by Union Bank of India. The bank alleged that the accused had entered into a criminal conspiracy, committed cheating and criminal misconduct, causing a wrongful loss of Rs 228.06 crore to the bank.
Union Bank of India declared RHFL’s account as a non-performing asset (NPA) on September 30, 2019, and subsequently classified it as fraud on October 10, 2024.
Investigations have revealed that RHFL had availed loans aggregating Rs 5,572.35 crore from 18 banks, financial institutions, non-banking financial companies (NBFCs) and corporate bodies, including Union Bank of India.
Other accused in the case include Ravindra Sudhalkar, former chief executive officer and whole-time director of RHFL, besides unknown persons and unidentified public servants.
Earlier, on December 9, 2025, the CBI conducted searches at two official premises of RHFL and the residential premises of Jai Anmol Ambani and Ravindra Sudhalkar in Mumbai after obtaining warrants from a special CBI court. Several incriminating documents were seized during the raids.
The agency said a detailed investigation is underway into allegations that the accused company defrauded multiple banks and financial institutions.