ADAG stocks: Shares of Anil Ambani group companies (ADAG) traded up to 5% lower on Wednesday, December 10, after a fresh case was filed by the Central Bureau of Investigation (CBI) on Reliance Home Finance and Reliance Commercial Finance following complaints by two public sector banks as part of the ongoing probe, according to several media reports.
The cases include an alleged fraud by Reliance Home Finance involving ₹228 crore (about $25.4 million) on a complaint by Union Bank of India and another against Reliance Commercial Finance involving ₹57.47 crore on a complaint by Bank of Maharashtra, the CBI said.
These companies were owned by the Anil Ambani-led Reliance group until fiscal year 2023 (FY23) 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, requiring them to file complaints with investigators, a Reuters report noted.
The federal agency is also investigating two separate cases against Reliance Home Finance and Reliance Commercial involving alleged fraud of ₹5572 crore and ₹9280 crore, respectively, as per a Reuters report. The fresh cases are part of these probes, the CBI added.
The chargesheet also names Jai Anmol Anil Ambani in one of them, the then Director of Reliance Home Finance, the PTI report stated.
"A thorough investigation will be conducted into allegations of defrauding all the banks and financial institutions by the accused companies," the CBI Spokesperson said as per the report.
Separately, another former ADGA company, Reliance Communications, told the exchanges on Tuesday that Union Bank of India has classified its loan account as fraud.
In another communication, Reliance Infra informed exchanges that it received an order from the Enforcement Directorate (ED) placing a lien of ₹77.86 crore on the company’s bank accounts in connection with alleged violations under FEMA.
How are ADAG stocks reacting?
Following these developments, shares of Anil Ambani group companies faced a selloff, losing up to 5% of their value. Reliance Power share price declined over 4% to hit the day's low of ₹34.18.
Meanwhile, Reliance Infra stock almost hit the 5% lower price band as it fell to ₹132.90 — also its 52-week low.
(With inputs from agencies)
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