Investigative portal Cobrapost has accused Anil Ambani's Reliance Group of siphoning off funds worth ₹28,874 crore raised via bank loans, IPO proceeds and bonds to promoter-group companies. It also alleged that the conglomerate routed $1.53 billion (about ₹13,047 crore) to India "using dodgy methods". Shell companies based in Cyprus, Mauritius and other places were allegedly involved in the fraud.