Shares of Anil Ambani group companies, also known as ADAG, dropped by up to 5% on Wednesday, December 10, after the Central Bureau of Investigation (CBI) filed a new case against Reliance Home Finance and Reliance Commercial Finance. This action was taken following complaints from two public sector banks as part of an ongoing probe.
The CBI has alleged that Reliance Home Finance was involved in a fraud of ₹228 crore (approximately $25.4 million) based on a complaint by Union Bank of India. Another case was filed against Reliance Commercial Finance for an alleged fraud of ₹57.47 crore, following a complaint by Bank of Maharashtra.
These companies were previously owned by the Anil Ambani-led Reliance group until the fiscal year 2023 and were then acquired by Authum Investment & Infrastructure through a debt resolution process. The banks had classified the loan accounts of these companies as fraud in 2024 and 2025, prompting them to file complaints with investigators.
The federal agency is also investigating two separate cases against Reliance Home Finance and Reliance Commercial Finance involving alleged fraud of ₹5572 crore and ₹9280 crore, respectively. The fresh cases are part of these ongoing probes, the CBI added.
A chargesheet has also been filed, naming Jai Anmol Anil Ambani, the then Director of Reliance Home Finance, in one of the cases.
Following these developments, shares of Anil Ambani group companies faced a significant selloff, losing up to 5% of their value. The Reliance Power share price declined by over 4% to hit a low of ₹34.18.
Meanwhile, Reliance Infra stock fell to ₹132.90, almost hitting the 5% lower price band and marking a 52-week low.
In a separate development, Reliance Communications informed the exchanges that Union Bank of India has classified its loan account as fraud.
Reliance Infra also received an order from the Enforcement Directorate (ED) placing a lien of ₹77.86 crore on the company’s bank accounts due to alleged violations under the Foreign Exchange Management Act (FEMA).
These developments have significant implications for investors and highlight the importance of staying informed about market trends and stock market news.
As the situation continues to unfold, it is essential for investors to consult with certified experts before making any investment decisions, considering the rapid changes in market conditions and varying circumstances.
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