In its charge sheet filed before a special court in Mumbai, the CBI has named Amit Bapna, Director and CFO, RHFL; Amitabh Jhunjhunwala, Group MD and vice-chairman, RCL; and Suresh Nagarajan, CFO, Reliance Power Limited, the agency said in a statement in New Delhi. File
| Photo Credit: PTI
“The Central Bureau of Investigation (CBI) filed its second charge sheet on Thursday (October 1, 2026) against 11 accused, including three then executives of the Reliance ADA Group, in a loan-fraud case related to alleged diversion of ₹7,429 crore borrowed by the Reliance Home Finance Limited (RHFL),” officials said.
In its charge sheet filed before a special court in Mumbai, the CBI has named Amit Bapna, Director and CFO, RHFL; Amitabh Jhunjhunwala, Group MD and vice-chairman, RCL; and Suresh Nagarajan, CFO, Reliance Power Limited, the agency said in a statement in New Delhi.
“Seven companies — Reliance Infrastructure Limited, Reliance Power Limited, Reliance Big Entertainment Private Limited, Reliance Broadcast Network Limited, Reliance Business Broadcast News Holdings Limited, Reliance MediaWorks Financial Services Private Limited and Kunjbihari Developers Private Limited — and one private person, Vijay Napawaliya, CA and statutory auditor of RHFL, have also been listed as accused in the charge sheet,” a CBI spokesperson said. No immediate reaction was received from the Reliance ADA Group on the development.
“The accused have been charge-sheeted for offences of criminal conspiracy and cheating under the IPC. Investigation conducted so far has revealed that funds amounting to ₹7,429.16 crore, borrowed by Reliance Home Finance Limited, were allegedly diverted through intermediary and conduit entities to various Reliance ADA Group companies in violation of the terms and conditions stipulated by lenders,” the spokesperson said.
It caused “wrongful loss to the lending banks and financial institutions and corresponding wrongful gain to the accused persons and related entities”, according to the spokesperson.
The agency registered the case based on complaints received from Union Bank of India (erstwhile Andhra Bank) and other public sector banks in the consortium.
“The first charge sheet was filed in the case on July 9 against four accused persons. With the filing of this charge sheet, a total of 15 accused persons, including senior officials and Group companies, have been charge-sheeted in the case so far. Further investigation is continuing to ascertain the role of other accused persons and to investigate into other allegations,” the spokesperson said.
The CBI is probing nine FIRs against Reliance Communications Limited (RCom), RHFL, Reliance Commercial Finance Limited (RCFL), Reliance Telecom Limited (RTL) and Reliance Capital Limited (RCL) on the basis of complaints received from various public sector banks, LIC and EPFO.
“The CBI had earlier filed six charge sheets in the Reliance ADA Group cases. The present charge sheet is the seventh charge sheet, and the CBI has so far arrested seven accused persons,” the spokesperson said.
Published – October 01, 2026 06:50 pm IST
