CBI chargesheets RCom, ex-chief investment officer of LIC in Rs 3,750 crore cheating case

The CBI has filed a chargesheet in the Rs 3,750 crore cheating case against Reliance Communications Ltd. (RCom), former executives of the group and a former Chief Investment Officer of Life Insurance Corporation of India for causing wrongful loss to LIC, officials said on Saturday.

The CBI investigation so far has revealed that, in 2012, LIC subscribed to NCDs worth Rs 1,500 crore issued by Reliance Communications Ltd. on the basis of serious misrepresentations, according to the central agency.