CBI files second charge sheet in Reliance Home Finance case, names 11 accused
The Central Bureau of Investigation has charged three Reliance ADA Group executives, seven group companies and a statutory auditor for allegedly diverting more than ₹7,429 crore of loans taken by Reliance Home Finance Ltd.
What the charge sheet alleges
The CBI said the charge sheet, filed before the Special Judge for CBI Cases in Mumbai, accuses the accused of criminal conspiracy and cheating under the Indian Penal Code. According to the agency’s statement, ₹7,429.16 crore borrowed by Reliance Home Finance Ltd (RHFL) was funneled through intermediary and conduit entities to various Reliance ADA Group companies, breaching the terms set by lenders and causing wrongful loss to the banks while enriching the accused.
Who is named
The charge sheet lists eleven individuals and entities:
- Amit Bapna – Director and Chief Financial Officer, RHFL
- Amitabh Jhunjhunwala – Group Managing Director and Vice‑Chairman, Reliance Capital Ltd (RCL)
- Suresh Nagarajan – Chief Financial Officer, Reliance Power Ltd
- Vijay Napawaliya – Chartered Accountant and statutory auditor of RHFL
- 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
- Kunjbihari Developers Pvt Ltd
The CBI’s filing also notes that the investigation stems from complaints lodged by Union Bank of India (formerly Andhra Bank) and other members of a public‑sector bank consortium.
Financial scale and impact
The alleged diversion of ₹7,429 crore (approximately US$ 90 billion) represents one of the largest loan‑fraud cases in India’s recent history. The CBI claims the diversion violated loan agreements, resulting in substantial wrongful losses for the lending banks and financial institutions. So far, seven arrests have been made across the broader Reliance ADA Group probe, and the agency has registered nine FIRs against entities such as Reliance Communications Ltd, Reliance Commercial Finance Ltd, Reliance Telecom Ltd and Reliance Capital Ltd.
Legal context and next steps
The first RHFL charge sheet was filed on 9 July 2026, naming four individuals. With the second filing, the total number of accused in the RHFL case rises to 15. The CBI says the investigation is monitored by the Supreme Court and that further inquiries are underway to identify any additional participants.
The charges will now be examined by the Mumbai special court. If convicted, the accused could face severe penalties, including imprisonment and hefty fines, under sections of the IPC covering conspiracy and cheating. The case remains high‑profile, given the scale of the alleged fraud and the involvement of senior executives from the Reliance ADA Group.
Key numbers
| What | Figure | Source |
|---|---|---|
| Amount allegedly diverted | ₹7,429.16 crore | CBI statement |
| Date of second charge sheet filing | 1 October 2026 | CBI press release / article publication date |
| Number of accused named in second charge sheet | 11 | CBI statement |
| Total accused in RHFL case after filing | 15 | CBI statement |
| Number of companies named | 7 | CBI statement |
| Arrests made in broader ADA group probe | 7 | CBI statement |
| FIRs registered against group entities | 9 | CBI statement |
In this story
| Name | Role in the story |
|---|---|
| Amit Bapna | Director and CFO of Reliance Home Finance Ltd |
| Amitabh Jhunjhunwala | Group MD and Vice‑Chairman of Reliance Capital Ltd |
| Suresh Nagarajan | CFO of Reliance Power Ltd |
| Vijay Napawaliya | Chartered accountant and statutory auditor of RHFL |
| Reliance Home Finance Ltd | Subject of the loan‑diversion investigation |