- CBI filed second chargesheet in RHFL case naming 11 accused including Reliance ADA executives
- Accused include three senior Reliance ADA Group executives and seven group companies
- Funds of Rs 7,429.16 crore allegedly diverted violating lender terms causing bank losses
The Central Bureau of Investigation (CBI) has filed its second chargesheet in the Reliance Home Finance Ltd. (RHFL) case, naming 11 accused persons, including three senior executives of the Reliance ADA Group, seven group companies and the company's statutory auditor. The chargesheet was filed on Oct. 1, 2026, before the Special Judge for CBI Cases in Mumbai. The accused have been chargesheeted for alleged offences of criminal conspiracy and cheating under the Indian Penal Code (IPC).
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.
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.
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The chargesheet also names Vijay Napawaliya, a chartered accountant and statutory auditor of RHFL, as an accused.
According to the CBI, its investigation so far has found that funds amounting to Rs 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.
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The alleged transactions resulted in wrongful loss to lending banks and financial institutions and corresponding wrongful gain to the accused persons and related entities, the CBI said. 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 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.
Nine FIRs against 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 Bank Securities Fraud Branch (BSFB), 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 said it had previously filed six chargesheets in cases involving Reliance ADA Group entities. The latest chargesheet is the seventh chargesheet filed by the agency across these cases.
The agency has so far arrested seven accused persons in the broader set of cases.
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