India, Dec. 10 -- The Central Bureau of Investigation (CBI) has registered a criminal case against Jai Anmol Ambani, son of industrialist Anil Ambani, following allegations of cheating and fund diversion that led to a loss of Rs 228.06 crore for Union Bank of India, media reports said.

The FIR, filed on December 6, 2025, at the CBI's Banking Security and Fraud Branch in New Delhi, names Jai Anmol Ambani, former director of Reliance Home Finance Ltd (RHFL), along with the company's former CEO Ravindra Sharad Sudhalkar, other associates, and certain public servants.

The alleged irregularities took place between April 2016 and June 2019.

Between February and May that year, the bank sanctioned three term loans worth Rs 450 crore and invest...