Dhirubhai Ambani BioSnap a weekly updated Biography.
Dhirubhai Ambani did not make any public appearances or issue new statements in recent days, yet his legacy remains at the center of explosive headlines and financial scrutiny involving his younger son, Anil Ambani, and the sprawling Reliance Anil Dhirubhai Ambani Group. Investigative portal Cobrapost staged a high-profile press conference in New Delhi this Thursday, presenting what they claim is evidence of a Rs 28,874-crore banking fraud orchestrated by Anil Ambani’s companies since 2006. According to Cobrapost, the group borrowed funds via bank loans, IPOs, and bonds, then allegedly diverted the money through a dense network of shell companies and offshore entities. Cobrapost’s editor Aniruddha Bahal told reporters their forensic analysis traces losses of more than Rs 3.38 lakh crore when factoring in unpaid loans and market value erosion, painting a picture of systemic financial abuse.
Reliance ADAG responded forcefully, denouncing the allegations as malicious, recycled, and motivated by rivals intent on crashing its stock and acquiring assets cheaply. They argue the claims are based on information already examined by regulators and investigation agencies, including SEBI, CBI, and ED, with much of it in the public domain. At the event, the debate extended to why the alleged misuse of taxpayers’ money hasn’t triggered decisive action from authorities, drawing sharp criticism from Supreme Court advocate Prashant Bhushan and investigative journalist Paranjoy Guha Thakurta. The conversation turned pointedly political, with claims of government inaction and regulatory failure allowing “lootwallahs” to operate unchecked.
Simultaneously, India Today and Economic Times report major developments in the Yes Bank case, where the Central Bureau of Investigation filed a detailed chargesheet implicating Anil Ambani alongside the bank’s former CEO Rana Kapoor. The charge is that Yes Bank lost more than Rs 2,700 crore due to risky investments in ADAG companies’ financial papers, allegedly driven by a quid pro quo arrangement: Ambani’s companies gave substantial financial benefits to firms owned by Kapoor’s family, while Kapoor personally oversaw decisions favoring ADAG. The investigative trail grows murkier with accusations of shell entities being used to funnel funds, concealed loans, private business meetings, and indirect money routing schemes involving Ambani’s elder son, Jai Anmol Ambani.
While none of these developments have led to the arrest or formal criminal conviction of the Ambani family, they are the focus of intense investigation. The headlines, especially “Cobrapost alleges Rs 28,874 crore fraud by Anil Ambani’s ADA Group” and “CBI links Anil Ambani, Rana Kapoor in Yes Bank scam,” have dominated social media and business news cycles, with thousands of comments, retweets, and sharp debates on platforms like Twitter and LinkedIn. Reliance ADAG’s rebuttals have also been widely circulated, framing the controversy as a hostile campaign. As for substantial business activity, no new deals or ventures have been announced by any Reliance entity directly connected to Dhirubhai Ambani’s name. It is important to note that all recent news focuses entirely on Anil Ambani; there are no major fresh social media mentions or developments regarding Dhirubhai Ambani personally except in the historical context as the founder of the Reliance conglomerate. These allegations and investigations, still ongoing, could cast a long shadow on the family’s biographical narrative should formal charges or penalties emerge, but for now, they remain allegations awaiting judicial and regulatory conclusions.
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