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CBI Chargesheets 17 More in Reliance Finance Case
The CBI has accused 17 more people and companies in a case involving Reliance Commercial Finance.
A chargesheet lists accusations, but it is not a final court judgment.
The accused include three company executives, eight companies, and six bank officials.
The CBI says ₹6,229.54 crore borrowed by the finance company was allegedly moved through other companies.
It says this broke the rules attached to the borrowing.
The agency estimates that lenders may have lost about ₹9,280 crore.
The case began after complaints from Bank of Maharashtra and other public-sector lenders.
The first chargesheet was filed on July 7, 2026, against seven accused.
The CBI says seven people have been arrested and that further investigation is continuing.
The CBI filed a supplementary chargesheet against 17 accused in the Reliance Commercial Finance case.
The accused include three Reliance ADA Group executives, eight companies, and six bank officials.
The CBI alleges that ₹6,229.54 crore borrowed by Reliance Commercial Finance was diverted through intermediary entities.
The agency estimates losses to banks, financial institutions, and other lenders at approximately ₹9,280 crore.
The filing brings the total number of chargesheeted accused to 24, while investigation into other accused continues.
- Who
- The CBI has named 17 additional accused, including three Reliance ADA Group executives, eight companies, and six bank officials.
- What
- It filed a supplementary chargesheet alleging criminal conspiracy, criminal misappropriation, cheating, and offences under the Prevention of Corruption Act, 1988.
- Where
- The chargesheet was filed before the Special Judge for CBI Cases in Mumbai; the investigation is being handled by the CBI’s Delhi-based Banking Securities & Fraud Branch.
- When
- The supplementary chargesheet was filed on Monday, September 7, 2026; the first chargesheet was filed on July 7, 2026.
- Why
- The case concerns the alleged diversion of funds borrowed by Reliance Commercial Finance and resulting losses to lenders.
CBI Allegations
Reported Defence
Alleged fund diversion
CBI Allegations
The CBI alleges that ₹6,229.54 crore borrowed by Reliance Commercial Finance was routed through intermediary and conduit entities to Reliance ADA Group companies in violation of borrowing conditions.
Reported Defence
The articles do not report a response or defence from the accused.
Losses to lenders
CBI Allegations
The CBI estimates that banks, financial institutions, and other lenders suffered losses of approximately ₹9,280 crore.
Reported Defence
The articles do not provide an alternative loss estimate or statement from the accused.
Key facts
- Additional accused
- 17 individuals and companies were named in the supplementary chargesheet.
- Total chargesheeted
- 24 accused, including individuals and companies, have been chargesheeted so far.
- Alleged diversion
- ₹6,229.54 crore was allegedly diverted through intermediary and conduit entities.
- Estimated lender loss
- Approximately ₹9,280 crore, according to the CBI.
- Executives named
- Amitabh Jhunjhunwala, Amit Bapna, and Ramesh Shenoy.
- Bank officials named
- Six officials associated with Bank of Baroda, Punjab National Bank, and Indian Overseas Bank.
- Arrests and investigation
- The CBI says seven accused have been arrested, while further investigation continues.
Sources
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