The CBI questioned industrialist Anil Ambani’s son Jai Anmol Ambani for nearly five hours for the second consecutive day on Saturday in connection with the alleged Rs 228 crore fraud involving the Union Bank of India, official sources said.Jai Anmol Ambani, the former director of Reliance Home Finance Limited (RHFL), was quizzed at the federal agency’s headquarters here in connection with the fraud case, in which he was booked along with RHFL’s former CEO and whole-time director Ravindra Sudhakar, among others, they said.The CBI conducted searches at Jai Anmol Ambani’s residence on December 9, 2025, after lodging an FIR against him and others. The CBI had acted on a complaint from the Union Bank of India (previously, the Andhra Bank), alleging that the company did not repay the credit availed from the bank, which turned the account into a non-performing asset (NPA) in 2019.The CBI had registered a criminal case against RHFL–a Reliance ADA Group company–its promoters and directors and unidentified bank officials on the basis of the bank’s complaint on allegations of criminal conspiracy, cheating and criminal misconduct, and thereby causing a wrongful loss of Rs 228.06 crore to the bank, a CBI spokesperson had said on March 13.“The account of Reliance Home Finance Limited was declared as an NPA on September 30, 2019, and as fraud on October 10, 2024, by the Union Bank of India,” the spokesperson had added.The RHFL had availed loans to the tune of Rs 5,572.35 crore from 18 banks, financial institutions, non-banking financial companies (NBFCs) and corporate bodies, including the Union Bank of India, the CBI spokesperson said.CBI sources said that a thorough investigation was being conducted into the allegations of defrauding all the banks and FIs (financial institutions) by the accused company. They said the agency had obtained search warrants from a special CBI court in Mumbai and conducted searches at two official premises of RFHL and the residential premises of Jai Anmol Ambani and Sudhakar in Mumbai.