The Central Bureau of Investigation (CBI) filed a supplementary chargesheet before a special CBI court in Mumbai in connection with the multi-crore Reliance Commercial Finance Ltd (RCFL) scam case.
Key Details of the Supplementary Chargesheet:
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Key Executives Named: The filing targets three prominent former top executives of the Reliance ADA Group:
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Amitabh Jhunjhunwala (Group Managing Director, Reliance ADA Group)
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Amit Bapna (Chief Financial Officer, Reliance Capital)
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Ramesh Shenoy (Company Secretary, Reliance Infrastructure Ltd)
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Entities and Officials Added: The agency expanded its net to include 14 additional entities, bringing the total number of accused individuals and companies in this specific case to 24. This includes eight group/associated companies—such as Reliance Power Ltd, Reliance Communications Ltd, Big Flicks Pvt Ltd, and Reliance Telecom Ltd—alongside six public sector bank officials from institutions like Bank of Baroda, Punjab National Bank, and Indian Overseas Bank.
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Core Allegations & Fund Diversion: The probe centers around a massive financial fraud amounting to roughly ₹9,280 crore involving a consortium of public sector lenders led by the Bank of Maharashtra. According to the CBI, investigators have traced an alleged diversion of ₹6,229.54 crore in borrowed funds. These funds were reportedly siphoned off through various intermediary and conduit entities to other Reliance ADA Group companies in violation of loan terms, causing severe wrongful losses to public lenders.
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Legal Charges: The accused have been booked under provisions of criminal conspiracy, criminal misappropriation, and cheating under the Indian Penal Code (IPC), alongside relevant sections of the Prevention of Corruption Act, 1988.
This filing marks the sixth chargesheet overall submitted by the agency across multiple ongoing, Supreme Court-monitored probes into various Reliance ADA Group entities (including RCom, RHFL, and RCFL).
