CBI files second charge sheet against 11 in Reliance Home Finance case
The Central Bureau of Investigation (CBI) on Thursday filed its second charge sheet in the Reliance Home Finance Ltd (RHFL) case before the Special Judge for CBI Cases in Mumbai, naming 11 accused, including three senior executives of the Anil Ambani-led Reliance ADA Group, according to an agency statement.
The executives named in the charge sheet are RHFL Director and Chief Financial Officer Amit Bapna, Reliance Commercial Ltd (RCL) Group Managing Director and Vice Chairman Amitabh Jhunjhunwala, and Reliance Power Ltd CFO Suresh Nagarajan.
Seven companies have also been named as accused: 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. Vijay Napawaliya, a chartered accountant and statutory auditor of RHFL, is the other individual accused.
The accused have been charged with offences of criminal conspiracy and cheating under the Indian Penal Code (IPC), the CBI said.
According to the agency, its investigation so far has found that Rs 7,429.16 crore borrowed by RHFL was allegedly diverted through intermediary and conduit entities to various Reliance ADA Group companies. The alleged diversion was in violation of the terms and conditions imposed by lenders, resulting in wrongful losses to banks and financial institutions and corresponding wrongful gains for the accused and related entities, the CBI said.
The case was registered following complaints from Union Bank of India, formerly Andhra Bank, and other public sector banks that were part of the lending consortium. The CBI filed its first charge sheet on July 9 against four accused. With Thursday’s filing, 15 accused, including senior officials and group companies, have been charge-sheeted in the case.
The agency said further investigation is continuing to establish the roles of other accused and examine additional allegations.
The CBI’s Banking Securities Fraud Branch in Delhi has registered nine FIRs against Reliance Communications Ltd, RHFL, Reliance Commercial Finance Ltd, Reliance Telecom Ltd and Reliance Capital Ltd based on complaints from various public sector banks, LIC and EPFO.
The CBI has previously filed six charge sheets in cases involving the Reliance ADA Group. The latest filing is the seventh, while seven accused have so far been arrested. The Supreme Court is monitoring the investigations.
With IANS inputs