1 day ago
CBI Files Second Chargesheet in Reliance Home Finance Fraud Case
The CBI is investigating a case involving money borrowed by Reliance Home Finance.
The agency says about Rs 7,429 crore was allegedly moved to other companies.
It says this may have broken the conditions set by the lenders.
The CBI has filed a second chargesheet naming 11 accused.
They include former company executives, several companies, and an auditor.
The agency says banks and financial institutions lost money because of the alleged diversion.
A first chargesheet had already named four people.
The investigation is continuing, and the Reliance ADA Group had not immediately commented.
The CBI filed a second chargesheet against 11 accused in the Reliance Home Finance loan fraud case.
The accused include three former executives of Reliance ADA Group companies and seven corporate entities.
The agency alleges that Rs 7,429.16 crore borrowed by Reliance Home Finance was diverted through intermediary entities.
The alleged diversion caused losses to lending banks and financial institutions, according to the CBI.
Including the first chargesheet, 15 accused have been chargesheeted, while seven people have been arrested so far.
- Who
- The CBI has accused 11 people and companies, including former Reliance ADA Group executives, Reliance-linked companies, and RHFL auditor Vijay Napawaliya.
- What
- The CBI filed its second chargesheet in a case alleging criminal conspiracy, cheating, and diversion of Rs 7,429.16 crore borrowed by Reliance Home Finance Ltd.
- Where
- The chargesheet was filed before a special court in Mumbai.
- When
- The second chargesheet was filed on Thursday; the first chargesheet was filed on July 9, with no year specified.
- Why
- The case was initiated after complaints from Union Bank of India and other public-sector bank members of a lending consortium.
Key facts
- Agency
- Central Bureau of Investigation (CBI)
- Chargesheet
- Second chargesheet in the Reliance Home Finance loan fraud case
- Accused named
- 11 in the second chargesheet; 15 in total after the first chargesheet
- Alleged amount diverted
- Rs 7,429.16 crore
- Alleged offences
- Criminal conspiracy and cheating under the Indian Penal Code
- Arrests
- Seven accused arrested so far
- Investigation status
- Further investigation is continuing into other accused and allegations
Quotes
CBI spokesperson
Spokesperson for the Central Bureau of Investigation
“The first chargesheet was filed in the case on July 9 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.”
deccanchronicle.com
“The accused have been chargesheeted for offences of criminal conspiracy and cheating under the IPC.”
deccanchronicle.com
Sources
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