CBI Probes Role Of Anil Ambani’s Son Jai Anmol And Rana Kapoor’s Daughter In ₹2,796 Crore Yes Bank–ADA Group Fraud Case

Mumbai: As the agency has pleaded the court to take cognizance of the chargesheet filed last month against Rana Kapoor and Anil Ambani, it said that the role of the children of Rana Kapoor and Anil Ambani is still under scanner.

Investigation Into Jai Anmol Ambani’s Role

The agency is probing role of Jai Anmol Ambani who was the then executive director of M/s Reliance Capital in subscribing NCDs of M/s Morgan credit Private Limited (a firm owned by Kapoor’s daughters) and in investment in AT-1 bonds of Yes bank by Reliance Nippon Mutual Funds. Similarly, Kapoor’s daughter Rakhee is being probed for her links with Morgan Credit Private Limited.

Dealings Executed Without Japanese Partner’s Knowledge

The agency claimed that the dealing of AMC was executed without keeping the representatives of the Japanese Co-sponsor – Nippon Life Insurance Company in loop. The agency has claimed that just before, just a month before the Reliance Nippon Life Asset Management Limited (AMC) was listed with BSE and NSE on November 6, 2017, Jai Anmol had started taking weekly review meetings of officers of AMC, the move which once then objected by senior executive of AMC.

Email Exchanges Indicate Interference

The two internal mails exchanged within the group highlight his alleged interference. It was claimed that Jai Anmol’s assistant instructed the officers of AMC by an email to keep Jai Anmol in loop on any investment done by AMC which is above Rs 50 crores. However, as the senior executive of AMC objected to it, the mail was withdrawn.

Japanese Partner Raised Concerns Over Interference

However, after listing AMC with BSE and NSE, allegations were made against Anil Ambani and Jai Anmol’s interference in the decision making of AMC, which escalated to the president of the Nippon Life Insurance Company and issues were sorted after the former's intervention. CBI has cited email exchanges between Ambani and the president of Nippon Life Insurance Company as evidence for interference.

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Access to Japanese Representatives Blocked

On the same day of email exchange – November 8, 2017, both Anil and Jai Anmol instructed the compliance officer of AMC to block all the access given to the representatives of Nippon Life Insurance Company, suspecting that the information about the company’s dealing were being passed in Japan.

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