The Central Bureau of Investigation (CBI) has registered a case against Reliance Capital Limited (RCAP), its former chairman Anil Ambani, former group managing director Satish Seth and unidentified public servants and others over an alleged fraud involving investments made by the Life Insurance Corporation of India (LIC). According to officials, the alleged fraud involves a purported wrongful loss of Rs 2,684.57 crore to LIC. The case follows a written complaint submitted by LIC against RCAP, Ambani, Seth, unidentified public servants and other individuals, the CBI said in an official statement. No immediate response was available from Anil Ambani's spokesperson. Ambani has maintained that he has done no wrong. LIC Invested Rs 3,900 Crore In Five RCAP Debentures According to the CBI, LIC has alleged that it subscribed to five non-convertible debentures (NCDs) issued by Reliance Capital between April 12, 2012, and March 9, 2018. The total value of these investments was Rs 3,900 crore, the agency said. LIC's investments were intended for "general corporate purposes, funding requirements and refinancing of existing debt", according to the CBI statement. The agency said the insurance company has alleged that the accused persons "entered a criminal conspiracy" and committed offences that included "cheating, criminal breach of trust, criminal misconduct, diversion/misappropriation of funds and falsification of accounts." The complaint alleges that LIC was induced to invest in Reliance Capital based on "misrepresentation". The CBI said LIC has further alleged that after the investments were made, the accused persons "fraudulently diverted the said funds". According to the agency, the alleged conduct resulted in a "wrongful loss to the tune of Rs 2,684.57 crore to LIC", with a corresponding wrongful gain allegedly accruing to the accused and other beneficiaries. The allegations are part of the FIR and will be examined as part of the CBI's investigation. The registration of a case does not by itself establish guilt. CBI To Examine Role Of Public Servants, Private Individuals The investigation will focus on identifying the roles played by all individuals allegedly involved in the matter. The CBI said investigators will examine the alleged criminal conspiracy and look into the involvement of both public servants and private individuals. The agency will also trace the end-use of the funds invested by LIC and investigate whether any portion of the money was allegedly diverted.