The Central Bureau of Investigation (CBI) has registered a first information report (FIR) case against Jai Corp director Anand Jain over alleged fraudulent activities. Jain along with his group of companies Urban Infrastructure Venture Capital and Urban Infrastructure Trustees, in relation to funds mobilised from the public for real estate projects worth Rs 2,434 crore back in 2006-2007, according to the FIR.
The suspected offence is “criminal conspiracy, cheating and dishonesty inducing delivery of property, making forged documents for the purpose of cheating and using as genuine the forged documents”, according to the FIR dated February 18.
The development may follow an investigation by capital market regulator SEBI going forward, according to sources.
Jain is a promoter of fantasy sports platform Dream11.
On Wednesday, Jai Corp shares ended higher by Rs 4.9 at Rs 101.9 apiece on BSE, locked in the 5.0 per cent upper circuit for a second straight session.
ALSO READ: Market rebound helps investors recoup Rs 8 lakh crore of losses; how to trade Nifty, Nifty Bank now?
Domestic equity benchmarks Nifty 50 and Sensex rebounded around 1 per cent each on Wednesday, recovering nearly half of the losses registered in the past three sessions aided by buying in auto, IT and FMCG shares.
The Sensex rose 740.3 points to end at 73,730.2 while the Nifty 50 gained 254.7 points to settle at 22,337.3, with heavyweights Bharti Airtel, Mahindra & Mahindra (M&M) and ITC shares being the top contributors to the recovery.
Except Bajaj Finance, IndusInd Bank, HDFC Bank and Shriram Finance, which declined between 0.1 per cent and 3.4 per cent, all Nifty 50 stocks registered gains on Wednesday.
ALSO READ: Final Trade: Sensex jumps 740 points, Nifty reclaims 22,300 as markets snap 10-day losing streak
Jai Corp Share Price History
As of Wednesday, the Jai Corp stock has lost 67 per cent of its value in 2025 so far, sharply underperforming a 5.9 per cent decline in the headline Nifty 50 index.
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