Cobrapost Alleges Fraud Against Anil Ambani-Led Firms
Cobrapost has alleged that the Reliance ADA Group, owned by Anil Ambani, siphoned off around ₹28,874 crore and routed about ₹13,000 crores into India through dubious offshore channels.
The group has strongly denied the charges, calling them false, defamatory, and part of a malicious campaign.
Alleged Diversion of Funds
- Reliance Infrastructure Ltd
- Reliance Capital Ltd
- Reliance Communications Ltd
- Reliance Home Finance Ltd
- Reliance Commercial Finance Ltd
- Reliance Corporate Advisory Services Ltd
Cobrapost claims the funds came from bank loans, IPO proceeds, and bonds, and were rerouted through a web of domestic and offshore entities.
The investigation draws on filings from the Ministry of Corporate Affairs, SEBI, NCLT, RBI, and various court orders.
Offshore Fund Flow
Cobrapost claims that $1.53 billion (approx. ₹13,047.50 crores) reached ADA Group companies from overseas sources “in a dubious manner.
Author's summary: Cobrapost alleges Anil Ambani-led firms of fraud.