CBI Chargesheets 17 More in Rs 9,280-Crore Reliance Finance Case:

The Central Bureau of Investigation (CBI) has filed its first supplementary chargesheet in the Reliance Commercial Finance Ltd. (RCFL) case before the Special CBI Court in Mumbai. The chargesheet names 17 accused, including three senior executives of the Reliance ADA Group, eight companies and six bank officials.

The three Reliance ADA Group executives named in the chargesheet are Amitabh Jhunjhunwala, Group Managing Director of the Reliance ADA Group; Amit Bapna, CFO of Reliance Capital Ltd. (RCL); and Ramesh Shenoy, Company Secretary of Reliance Infrastructure Ltd.

The eight companies named are Reliance Power Ltd., Big Flicks Pvt. Ltd., Reliance Big Entertainment Pvt. Ltd., Reliance Communications Ltd., Kunjbihari Developers Pvt. Ltd., Reliance Venture Asset Management Pvt. Ltd., Reliance Broadcast Network Ltd. and Reliance Telecom Ltd.

The six bank officials are associated with Bank of Baroda, Punjab National Bank and Indian Overseas Bank.

According to the CBI investigation, around Rs. 6,229.54 crore borrowed by Reliance Commercial Finance was allegedly diverted through intermediary and conduit companies to various Reliance ADA Group companies. The CBI alleges that this was done in violation of the conditions under which the funds were borrowed.

The alleged diversion caused a loss to banks and other financial institutions, while the accused persons and related entities allegedly gained financially.

The case was registered by the CBI following complaints from Bank of Maharashtra and other public sector banks that were part of the lending consortium. The total alleged loss to banks, financial institutions and other lenders is estimated at around Rs. 9,280 crore.

The CBI had earlier filed its first chargesheet in the case on July 7, 2026, against seven accused persons. With the latest supplementary chargesheet, a total of 24 accused, including individuals and companies, have now been chargesheeted in the case.

The CBI said its investigation is still continuing and will examine the role of other accused persons.

The CBI has also registered eight FIRs against Reliance Communications Ltd. (RCom), Reliance Home Finance Ltd. (RHFL), Reliance Commercial Finance Ltd. (RCFL), Reliance Telecom Ltd. (RTL) and other Reliance ADA Group entities. These cases were registered based on complaints from various public sector banks, LIC and EPFO.

So far, the CBI has filed six chargesheets in the Reliance ADA Group cases and has arrested seven accused persons.

The investigation is being monitored by the Supreme Court. The CBI said it remains committed to completing the investigation quickly and comprehensively.