inshorts
Anil Ambani's Reliance Group accused of ₹41,900 crore fraud
Investigative portal Cobrapost has accused Anil Ambani's Reliance Group of siphoning off funds worth ₹28,874 crore raised via bank loans, IPO proceeds and bonds to promoter-group companies. It also alleged that the conglomerate routed $1.53 billion (about ₹13,047 crore) to India "using dodgy methods". Shell companies based in Cyprus, Mauritius and other places were allegedly involved in the fraud.
tap for more at Financial Express / today
Reliance Group dismissed the report
It called the report 'a malicious campaign'
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