New Delhi, April 1 -- The Central Bureau of Investigation (CBI) on Wednesday said it has registered another case against Reliance Communications, Anil Dhirajlal Ambani and others on allegations of causing a wrongful loss of Rs 3,750 crore to the Life Insurance Corporation of India (LIC).
The FIR was registered on April 1 based on a complaint received from LIC, alleging offences of criminal conspiracy, cheating, misappropriation, and violations under the Prevention of Corruption Act.
According to the CBI, LIC was allegedly induced to subscribe to Non-Convertible Debentures (NCDs) worth Rs 4,500 crore on the basis of false representations made by Reliance Communications and its management regarding the company's financial health, as well as...