1 week ago
CBI Files Third Chargesheet in Reliance Communications Loan Fraud Case
India’s Central Bureau of Investigation is investigating an alleged loan fraud involving Reliance Communications.
The agency has filed its third chargesheet in the case.
It has accused Amitabh Jhunjhunwala, a senior Reliance ADA Group executive, of helping obtain a Rs 1,200-crore loan through an alleged conspiracy.
The loans were taken for Reliance Communications and Reliance Infratel.
The companies allegedly did not repay the loans.
The CBI says this caused State Bank of India to lose about Rs 971.25 crore.
In total, 20 people and companies have now been formally charged in the case.
Seven people have been arrested and are in judicial custody.
The CBI says its investigation is still continuing.
The CBI filed a supplementary chargesheet against Reliance ADA Group Managing Director Amitabh Jhunjhunwala.
Jhunjhunwala is accused of conspiracy, criminal misappropriation and cheating in a Rs 1,200-crore loan case.
The agency alleges Reliance Communications and Reliance Infratel failed to repay loans, causing SBI a loss of about Rs 971.25 crore.
With the latest filing, 20 accused have been chargesheeted, including companies, executives and bank officials.
The CBI said further investigation is continuing and that all seven arrested accused remain in judicial custody.
- Who
- The Central Bureau of Investigation has charged Amitabh Jhunjhunwala and 19 other accused in the case.
- What
- The CBI filed a supplementary chargesheet over an alleged Rs 1,200-crore loan fraud involving Reliance Communications and Reliance Infratel.
- Where
- The chargesheet was filed before the Special Judge for CBI Cases in Mumbai.
- When
- The latest chargesheet was filed on the Friday referenced in the report; the first chargesheet was filed on May 29.
- Why
- The CBI alleges that the loan was obtained through a criminal conspiracy and that non-repayment caused State Bank of India a loss of about Rs 971.25 crore.
Key facts
- Agency
- Central Bureau of Investigation (CBI)
- Alleged loan amount
- Rs 1,200 crore
- Alleged bank loss
- About Rs 971.25 crore
- Total public-sector exposure cited in the FIR
- Rs 19,694.33 crore
- Total accused chargesheeted
- 20
- People arrested in Reliance ADA Group cases
- Seven, all reportedly in judicial custody
- Investigation status
- Further investigation is ongoing and is being monitored by the Supreme Court
Quotes
CBI
The Central Bureau of Investigation, which filed the chargesheet and issued the official statement
“With the second supplementary chargesheet filed against Amitabh Jhunjhunwala, a total of 20 accused persons have been charge-sheeted in this case”
NDTV
Sources
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