New Delhi, Sep 7: The CBI on Monday filed a supplementary chargesheet against three ex-executives of the Reliance ADA Group in connection with the Rs 9,280 crore Reliance Commercial Finance Ltd scam case, the agency said in a statement.
The latest action came against the firm’s group managing director Amitabh Jhunjhunwala, Reliance Capital chief financial officer Amit Bapna, and Reliance Infrastructure Ltd company secretary Ramesh Shenoy.
The agency named 14 more entities in the supplementary chargesheet filed before a special CBI court in Mumbai.
“The CBI has filed the first supplementary chargesheet today in the Reliance Commercial Finance Ltd. (RCFL) case… including three executives of the Reliance ADA Group, namely Amitabh Jhunjhunwala, Group Managing Director of the Reliance ADA Group; Amit Bapna, CFO, RCL; and Ramesh Shenoy, Company Secretary, Reliance Infrastructure Ltd,” an agency spokesperson said in a statement.
The list of accused by the CBI includes eight companies — Reliance Power Ltd, Big Flicks Pvt Ltd, Reliance Big Entertainment Pvt Ltd, Reliance Communications Ltd, Kunjbihari Developers Pvt Ltd, Reliance Venture Asset Management Pvt Ltd, Reliance Broadcast Network Ltd and Reliance Telecom Ltd.
Six bank officials associated with Bank of Baroda, Punjab National Bank and Indian Overseas Bank are also named as accused, the spokesperson said in a statement.
No immediate reaction was available from the company.
“The accused have been chargesheeted for offences of criminal conspiracy, criminal misappropriation and cheating under the IPC, along with offences under the Prevention of Corruption Act, 1988,” the spokesperson said.
In its chargesheet, the CBI said that its probe has so far revealed that funds borrowed by Reliance Commercial Finance Ltd were allegedly diverted to the extent of Rs 6,229.54 crore through intermediary and conduit entities to various Reliance ADA Group companies.
The diversion, it said, violated the terms and conditions governing such borrowings and caused wrongful loss to the lending banks and financial institutions and corresponding wrongful gain to the accused and related entities.
The CBI registered the case based on complaints from Bank of Maharashtra and other public sector banks in the consortium, which allegedly suffered a loss of Rs 9,280 crore.
“The first chargesheet was filed in the case on 07.07.2026 against seven accused persons. With the filing of the present supplementary chargesheet, a total of 24 accused persons, including individuals and companies, have been chargesheeted in the case so far. The further investigation is continuing to look into the role of other accused,” the CBI said.
The agency has registered eight FIRs against Reliance Communications Limited (RCom), Reliance Home Finance Limited (RHFL), Reliance Commercial Finance Limited (RCFL), Reliance Telecom Limited (RTL), and other Reliance ADA Group entities based on complaints received from various Public Sector Banks, LIC, and EPFO.
“The CBI had earlier filed five chargesheets in the Reliance ADA Group cases. The present supplementary chargesheet is the sixth chargesheet filed in these cases. The CBI has so far arrested seven accused persons in the Reliance ADA Group cases,” the agency said.
The Supreme Court is monitoring the CBI probe.
