The Central Bureau of Investigation (CBI) has filed its second chargesheet in the Reliance Home Finance Ltd. (RHFL) case, naming 11 accused, including three senior executives of the Reliance ADA Group, seven group companies and the company's statutory auditor. The chargesheet was filed on October 1, 2026, before the Special Judge for CBI Cases in Mumbai. The accused have been charged with alleged offences of criminal conspiracy and cheating under the Indian Penal Code.
The three executives named are Amit Bapna, Director and Chief Financial Officer of RHFL; Amitabh Jhunjhunwala, Group Managing Director and Vice Chairman of Reliance Capital Ltd.; and Suresh Nagarajan, Chief Financial Officer of Reliance Power Ltd. The seven companies named in the chargesheet 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.
The chargesheet also names chartered accountant Vijay Napawaliya, who served as RHFL's statutory auditor. According to the CBI, its investigation has found that Rs 7,429.16 crore borrowed by Reliance Home Finance was allegedly diverted through intermediary and conduit entities to various Reliance ADA Group companies. The agency has alleged that the transactions were carried out in violation of conditions imposed by the lenders.
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The CBI has further alleged that the transactions resulted in wrongful losses to lending banks and financial institutions and corresponding wrongful gains to the accused individuals and related entities. 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 allegations remain subject to proceedings before the competent court.
The agency had filed its first chargesheet in the RHFL case on July 9, 2026, naming four accused persons. With the latest filing, a total of 15 accused, including individuals and group companies, have now been chargesheeted in the case. The CBI said its investigation is continuing to establish the role of other accused persons and examine additional allegations.
The RHFL case forms part of a wider CBI investigation involving entities associated with the Reliance ADA Group. The agency's Bank Securities Fraud Branch in Delhi has registered nine FIRs against Reliance Communications Ltd., Reliance Home Finance Ltd., Reliance Commercial Finance Ltd., Reliance Telecom Ltd. and Reliance Capital Ltd., based on complaints from public sector banks, the Life Insurance Corporation of India and the Employees' Provident Fund Organisation. The CBI said it had previously filed six chargesheets across these cases and arrested seven accused persons, with the latest filing being the seventh chargesheet in the broader set of investigations.
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