New Delhi [India], October 1 (ANI): The Central Bureau of Investigation (CBI) on Thursday filed its second chargesheet in the Reliance Home Finance Ltd (RHFL) case before the Special Judge for CBI Cases, Mumbai, against 11 accused persons, including three executives of the Reliance ADA Group, seven companies and a chartered accountant.
The accused have been chargesheeted for offences of criminal conspiracy and cheating under the Indian Penal Code (IPC).
According to the CBI, the chargesheet names Amit Bapna, Director and CFO of RHFL; Amitabh Jhunjhunwala, Group MD and Vice Chairman of Reliance Capital Ltd (RCL); and Suresh Nagarajan, CFO of Reliance Power Ltd.
The seven companies named as accused are Reliance Infrastructure Limited, Reliance Power Ltd., Reliance Big Entertainment Pvt. Ltd., Reliance Broadcast Network Limited, Reliance Business Broadcast News Holdings Ltd., Reliance MediaWorks Financial Services Pvt. Ltd. and Kunjbihari Developers Pvt. Ltd.
Vijay Napawaliya, CA and Statutory Auditor of RHFL, has also been named as an accused.
The investigation conducted so far has revealed that funds amounting to Rs 7,429.16 crore borrowed by RHFL 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 alleged diversion resulted in wrongful loss to lending banks and financial institutions and corresponding wrongful gain to the accused persons and related entities, the CBI said.
The agency had registered the case on the basis of complaints received from Union Bank of India, formerly Andhra Bank, and other public sector banks that were part of the consortium.
"Investigation conducted so far has revealed that funds amounting to Rs. 7,429.16 crore, borrowed by Reliance Home Finance Ltd., were allegedly diverted through intermediary and conduit entities to various Reliance ADA Group companies in violation of the terms and conditions stipulated by lenders, thereby causing wrongful loss to the lending banks and financial institutions and corresponding wrongful gain to the accused persons and related entities," the release said.
"It may be recalled that the CBI had registered the case on the basis of complaints received from Union Bank of India (erstwhile Andhra Bank) and other Public Sector Banks of the consortium. The first chargesheet was filed in the case on 09.07.2026 against four accused persons. With the filing of this chargesheet, a total of 15 accused persons, including senior officials and Group companies, have been chargesheeted in the case so far. Further investigation is continuing to ascertain the role of other accused persons and to investigate into other allegations," the CBI further said.
The first chargesheet in the case was filed on July 9, against four accused persons. With the filing of the second chargesheet, a total of 15 accused persons, including senior officials and group companies, have been chargesheeted in the case so far.
The CBI said further investigation is continuing to ascertain the role of other accused persons and examine other allegations.
The CBI, BSFB, Delhi, has also registered nine FIRs against Reliance Communications Limited, Reliance Home Finance Limited, Reliance Commercial Finance Limited, Reliance Telecom Limited and Reliance Capital Ltd based on complaints received from various public sector banks, LIC and EPFO.
The agency had earlier filed six chargesheets in cases related to the Reliance ADA Group. The present chargesheet is the seventh chargesheet, while seven accused persons have so far been arrested, the CBI said.
"The investigation in these cases is being monitored by the Hon'ble Supreme Court. The CBI remains committed to conducting an expeditious and comprehensive investigation into these cases," the CBI said. (ANI)
CBI files second chargesheet in Reliance Home Finance case against 11 accused
