NEW DELHI: The CBI on Thursday filed its second chargesheet in the Rs 7,429-crore Reliance Home Finance Ltd (RHFL) alleged loan diversion case, naming 11 accused, including three senior executives of the Reliance ADA Group and seven corporate entities.The chargesheet alleges criminal conspiracy and cheating that led to massive wrongful losses for a consortium of public sector banks and financial institutions.Among the individuals charged are RHFL director and chief financial officer Amit Bapna, Reliance Capital Group MD and vice chairperson Amitabh Jhunjhunwala, Reliance Power CFO Suresh Nagarajan, and RHFL’s statutory auditor Vijay Napawaliya.The seven companies named as accused include Reliance Infrastructure, Reliance Power, Reliance Big Entertainment, Reliance Broadcast Network, Reliance Business Broadcast News Holdings, Reliance MediaWorks Financial Services, and Kunjbihari Developers.According to the probe agency, RHFL borrowed funds from lending institutions and allegedly siphoned off Rs 7,429 crore through a web of intermediary and conduit entities.These funds were ultimately diverted to various Reliance ADA Group companies in direct violation of lending terms, causing substantial financial harm to the banks while wrongfully enriching the accused individuals and related companies.
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The investigation stems from complaints initially filed by the Union Bank of India and other public sector bank consortium members. This latest filing brings the total number of accused charged in the specific RHFL case to 15, following an initial chargesheet filed against four individuals on July 9. The CBI noted that further investigations are ongoing to determine the roles of other potential suspects.The RHFL probe is part of a broader, Supreme Court-monitored investigation into the Reliance ADA Group.The CBI’s Banking Securities Fraud Branch in Delhi has registered nine FIRs against group companies, including RCom, RCFL, RTL and Reliance Capital, based on complaints from public sector banks, LIC and the EPFO.Thursday’s filing marks the seventh chargesheet submitted across these interconnected cases, which have resulted in seven arrests so far, the CBI said.
