New Delhi [India], July 10 (ANI):The Central Bureau of Investigation (CBI) has filed the first chargesheet in the Reliance Home Finance Limited (RHFL) case before the Special Judge for CBI Cases, Mumbai, against four accused persons, including Reliance Home Finance Limited (RHFL), two former senior executives of RHFL, namely Ravindra Sudhalkar (Executive Director & CEO), and Krishanan Gopalakrishnan Iyer (Chief Risk Officer) and former senior executive of Reliance Capital Ltd, Dhananjay Bhagwanprasad Tiwari (Chief Credit & Risk Officer) for alleged offences of criminal conspiracy and cheating with intent to cause huge losses to Public Sector Banks.
The chargesheet filed on Thursday is based on the investigation conducted by the CBI.
The agency said that funds borrowed by Reliance Home Finance Limited were diverted through intermediary and conduit entities to various Reliance ADA Group companies, in violation of the terms and conditions governing such borrowings, thereby causing wrongful loss to the lending banks and corresponding wrongful gain to the accused persons and related entities.
It may be recalled that the CBI had registered the case on the basis of complaints received from Union Bank of India and other PSU banks of the consortium. The total loss caused to the 10 Public Sector Banks of the consortium is Rs. 3526.35 crores.
Further investigation has been kept open to ascertain the role of other directors, entities and public servants involved in causing wrongful loss to the Public Sector Banks.
Supplementary chargesheets are expected to be filed in due course.
The CBI has so far arrested two accused persons in this case, namely Ravindra Sudhalkar, former CEO and Amit Bapna, former Director of RHFL. Both the accused are presently in judicial custody.
It may also be recalled that the CBI has registered seven FIRs against Reliance Communications Limited (RCom), Reliance Home Finance Limited (RHFL), Reliance Commercial Finance Limited (RCFL) and Reliance Telecom Limited (RTL) on the basis of complaints received from various Public Sector Banks and LIC. CBI had earlier filed its first chargesheet in the Reliance Communications Limited (RCom) case on May 29, 2026 against 16 accused persons and a second chargesheet in the Reliance Commercial Finance Limited (RCFL) case on July 7, 2026 against seven accused persons. The present chargesheet is the third chargesheet filed in the Reliance ADA Group cases. (ANI)
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