New Delhi, May 2: A court in New Delhi has extended the judicial custody of two former senior officials of the Reliance Group, Amitabh Jhunjhunwala and Amit Bapna, until May 15. This decision was made in connection with a money laundering case involving Reliance Home Finance Limited (RHFL).
The special judge at the Rouse Avenue Court approved the Enforcement Directorate’s (ED) request for an extension of custody for further questioning. Jhunjhunwala and Bapna were presented in court after their custody period ended. Due to health issues, Jhunjhunwala appeared via video conferencing. The court instructed the prison administration to provide a health report for him.
Both Jhunjhunwala and Bapna, known to be close associates of Anil Ambani, were arrested under the Prevention of Money Laundering Act (PMLA) as part of an ongoing investigation initiated based on cases registered by the Central Bureau of Investigation (CBI).
The case is linked to alleged financial irregularities involving companies like Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL), where both individuals are suspected to have played a role.
Sources indicate that Jhunjhunwala previously served as the Group Managing Director of the Reliance Group and was the Vice Chairman and Director of Reliance Capital, playing a significant role in major company decisions during his tenure.
Bapna has also held significant positions, serving as the Chief Financial Officer of Reliance Capital and as a Director at RHFL, facing accusations of involvement in financial decision-making under investigation.
The ED arrested both individuals after uncovering their potential involvement in the misappropriation of bank loan funds and money laundering activities.
Previously, the CBI had filed a case against Reliance Communications (RCom), Anil Ambani, and others, alleging a loss of ₹3,750 crores to the Life Insurance Corporation of India (LIC).
Anil Ambani has already been questioned in this matter.
Meanwhile, the Reliance Group has stated that Jhunjhunwala and Bapna are no longer associated with the company and are not currently employed by any group entity. According to the group’s statement, Jhunjhunwala left the company in December 2019, while Bapna departed in September 2019, and they have no ties to Reliance Infrastructure Limited or Reliance Power Limited.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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