The Central Bureau of Investigation (CBI) filed its second chargesheet in the Reliance Home Finance Ltd. (RHFL) case on October 1, 2026, naming 11 accused persons before the Special Judge for CBI Cases in Mumbai. According to the latest CBI statement, the chargesheet includes three senior executives of the Reliance ADA Group, seven group companies, and the company's statutory auditor. The accused have been chargesheeted for alleged offences of criminal conspiracy and cheating under the Indian Penal Code (IPC). The case was registered by the CBI following complaints from Union Bank of India, formerly Andhra Bank, and other public sector banks that were part of the lending consortium. The investigation conducted so far has revealed that funds amounting to ₹7,429.16 crore borrowed by Reliance Home Finance 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 lending banks and financial institutions and corresponding wrongful gain to the accused persons and related entities.
The three Reliance ADA Group executives named in the chargesheet are Amit Bapna, Director and CFO of RHFL; Amitabh Jhunjhunwala, Group MD and Vice Chairman of Reliance Capital Ltd.; and Suresh Nagarajan, CFO of Reliance Power Ltd.. As reported by the CBI statement, the seven companies named are Reliance Infrastructure Ltd., Reliance Power Ltd., Reliance Big Entertainment Pvt. Ltd., Reliance Broadcast Network Ltd., Reliance Business Broadcast News Holdings Ltd., Reliance MediaWorks Financial Services Pvt. Ltd. and Kunjbihari Developers Pvt. Ltd.. The chargesheet also includes Vijay Napawaliya, a chartered accountant and statutory auditor of RHFL, as an accused. With the filing of this second chargesheet, a total of 15 accused persons, including senior officials and group companies, have now been chargesheeted in the case. The CBI's Banking Securities Fraud Branch, Delhi, has registered nine FIRs against Reliance Communications Ltd. (RCom), Reliance Home Finance Ltd. (RHFL), Reliance Commercial Finance Ltd. (RCFL), Reliance Telecom Ltd. (RTL) and Reliance Capital Ltd. (RCL) on the basis of complaints received from various public sector banks, Life Insurance Corporation of India (LIC) and the Employees' Provident Fund Organisation (EPFO).
According to the CBI investigation, funds amounting to ₹7,429.16 crore borrowed by Reliance Home Finance were allegedly diverted through intermediary and conduit entities to various Reliance ADA Group companies. The agency alleged that the diversion was carried out in violation of the terms and conditions stipulated by lenders. The alleged transactions resulted in wrongful loss to lending banks and financial institutions and corresponding wrongful gain to the accused persons and related entities. This represents the seventh chargesheet filed by the CBI across all cases involving Reliance ADA Group entities.
The RHFL case is part of a wider investigation into several companies associated with the Reliance ADA Group. The CBI's Banking Securities Fraud Branch, Delhi, has registered nine FIRs against Reliance Communications Ltd. (RCom), Reliance Home Finance Ltd. (RHFL), Reliance Commercial Finance Ltd. (RCFL), Reliance Telecom Ltd. (RTL) and Reliance Capital Ltd. (RCL). These cases were registered on the basis of complaints received from various public sector banks, Life Insurance Corporation of India (LIC) and the Employees' Provident Fund Organisation (EPFO). The CBI had previously filed six chargesheets in cases involving Reliance ADA Group entities and has so far arrested seven accused persons in the broader set of cases. The investigation in these cases is being monitored by the Supreme Court.
The CBI had filed the first chargesheet in the RHFL case on July 9, 2026, against four accused persons. With the filing of the second chargesheet, a total of 15 accused persons, including senior officials and group companies, have now been chargesheeted in the case. The agency said its investigation is continuing to determine the role of other accused persons and examine additional allegations. The CBI has previously filed six chargesheets in cases involving Reliance ADA Group entities and has so far arrested seven accused persons in the broader set of cases.
