CBI Chargesheets Anil Ambani Firms, Yes Bank Officials in ₹6,000-Crore Fraud Case
The Central Bureau of Investigation (CBI) has filed chargesheets in two high-profile fraud cases involving Anil Ambani’s Reliance ADA Group companies and former Yes Bank CEO Rana Kapoor. The agency alleges that a criminal conspiracy between Kapoor and Ambani led to the diversion of thousands of crores in public funds, causing massive losses to Yes Bank.
According to the chargesheets, submitted before a Mumbai court on September 18, Yes Bank invested over ₹2,045 crore in debentures of Reliance Commercial Finance Ltd (RCFL) and ₹2,965 crore in instruments of Reliance Home Finance Ltd (RHFL) in 2017. At the time, Care Ratings had already placed the ADA Group “under watch” due to its weakening financial position. Despite these warnings, the investments went ahead, and investigators allege the funds were later siphoned off through multiple layers of transactions.
The CBI claims that Rana Kapoor abused his position as CEO by channeling substantial sums of Yes Bank’s public funds into financially distressed ADA Group firms. In return, the Ambani-led companies allegedly extended concessional loans and credit facilities to firms owned by Kapoor’s family members, including his wife Bindu Kapoor and daughters Radha Kapoor and Roshni Kapoor.
This quid pro quo arrangement is said to have caused a wrongful loss of ₹2,796.77 crore to Yes Bank, while providing unlawful gains to RCFL, RHFL, ADA Group companies, and Kapoor’s family-owned firms.
Investigators also uncovered that Reliance Nippon Mutual Funds, then a subsidiary of Reliance Capital Ltd, directed by Anil Ambani, made significant investments in entities linked to Kapoor. Between 2017–18, the fund:
Invested ₹1,160 crore in non-convertible debentures of Morgan Credits Pvt Ltd, a company owned by Kapoor’s family.
Purchased ADA Group debentures worth ₹249.80 crore from Yes Bank.
Invested ₹1,750 crore in high-risk AT1 Bonds issued by Yes Bank—debt instruments that carry no maturity date, can be written off in crises, and rank below other debts during liquidation.
The chargesheet names Rana Kapoor, Anil Ambani, Bindu Kapoor, Radha Kapoor, Roshni Kapoor, and several firms, including RCFL, RHFL (now Authum Investment & Infrastructure Ltd), Morgan Credits Pvt Ltd, and a number of Kapoor family-owned companies. They have been booked under provisions of the Prevention of Corruption Act and the Bharatiya Nyaya Sanhita.
The case highlights deep-rooted concerns over alleged collusion between corporate houses and financial institutions, raising questions about governance and oversight in India’s banking sector.
