India’s Mumbai Police Register Case Against Anil Ambani Cos: ET

The Mumbai Police have registered a case against Reliance Commercial Finance, Reliance Infrastructure, Reliance Power and founders of the Anil Dhirubhai Ambani Group based on a complaint by Axis Bank, the Economic Times newspaper reported.

• The complaint alleges financial irregularities and diversion of funds
  • The city police had earlier initiated a preliminary probe into the matter, which has now been converted into a First Information Report, or FIR
• Axis bank has quantified the amount involved at 389.5 million rupees, representing the principal sacrifice under the resolution plan implemented for RCFL
  • However, the police are probing transactions worth over 18 ...