Overview
- An FIR based on a Union Bank complaint names Jai Anmol Ambani, Reliance Home Finance Ltd and ex-CEO Ravindra Sudhalkar over an alleged wrongful loss of Rs 228.06 crore.
- A separate case follows a Bank of Maharashtra complaint against Reliance Commercial Finance Ltd and its directors for an alleged loss of Rs 57.47 crore, with searches at the Mumbai office and director Devang Mody’s Pune residence.
- Court‑sanctioned raids were conducted at two RHFL offices and residences in Mumbai, including the Sea Wind building, where officials said incriminating documents were seized.
- A Grant Thornton forensic audit of transactions from April 2016 to June 2019 cited systematic diversion of funds to “Potentially Indirectly Linked Entities,” findings lenders used to classify the accounts as fraud.
- Lender exposure under scrutiny includes RHFL borrowings of about Rs 5,572.35 crore and RCFL borrowings of about Rs 9,280 crore, while the Enforcement Directorate’s separate actions have attached group assets of roughly Rs 10,117 crore.