New Delhi, October 1 (Daily Kiran) : The Central Bureau of Investigation (CBI) has submitted a second charge sheet in the Reliance Home Finance Limited (RHFL) case at a special CBI court in Mumbai. This charge sheet identifies a total of 11 accused, including three senior officials from the Reliance ADA Group, led by Anil Ambani.
Among those named are Amit Bapna, Director and Chief Financial Officer of RHFL, Amitabh Jhunjhunwala, Managing Director and Vice Chairman of Reliance Capital, and Suresh Nagrajan, CFO of Reliance Power.
The charge sheet also lists seven companies, which include 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. Additionally, Vijay Napawalia, the chartered accountant and statutory auditor for RHFL, has been implicated.
The CBI has charged these individuals with criminal conspiracy and fraud under the Indian Penal Code (IPC). Investigations have revealed that approximately ₹7,429.16 crores borrowed by RHFL were allegedly funneled through various intermediary and front companies back to other companies within the Reliance ADA Group. The agency claims this transfer violated conditions set by lenders, resulting in losses for banks and financial institutions while providing undue benefits to the involved parties.
This case was initiated based on complaints received from Union Bank of India (formerly Andhra Bank) and other public sector banks. Earlier, on July 9, the CBI had filed its first charge sheet, naming four individuals.
With the latest charge sheet, a total of 15 individuals have now been charged in this case, including senior executives and various group companies. The CBI has indicated that investigations into the roles of other potential accused and additional charges are still ongoing.
The CBI’s Banking Securities Fraud branch has registered nine FIRs against several companies in the Reliance group, including Reliance Communications (RCom), Reliance Home Finance (RHFL), Reliance Commercial Finance (RCFL), Reliance Telecom (RTL), and Reliance Capital (RCL). These cases are based on complaints from various public sector banks, LIC, and EPFO.
So far, the CBI has filed six charge sheets in cases related to the Reliance ADA Group, with the current document being the seventh. The agency has also arrested seven individuals in connection with these matters.
Notably, the Supreme Court is overseeing the investigation into these cases. The CBI has stated that further inquiries are underway, and additional actions may be taken based on new evidence.
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