New Delhi: The Central Bureau of Investigation (CBI) filed a second charge sheet in the Reliance Home Finance Ltd. (RHFL) case Thursday before the Special Judge for CBI Cases, Mumbai, against 11 accused, including three top executives of the Anil Ambani-led Reliance ADA Group, according to an agency statement.
The top executives include RHFL Director and CFO Amit Bapna, RCL Group MD and Vice Chairman Amitabh Jhunjhunwala and Reliance Power Ltd. CFO Suresh Nagarajan.
The seven companies on the list 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., and one private person, Vijay Napawaliya, CA and Statutory Auditor of RHFL. The accused have been charge-sheeted for offences of criminal conspiracy and cheating under the IPC, the statement said.
The Investigation conducted so far has revealed that funds amounting to Rs. 7,429.16 crore, borrowed by Reliance Home Finance Ltd., were allegedly diverted through intermediary and conduit entities to various Reliance ADA Group companies in violation of the terms and conditions stipulated by lenders, thereby causing wrongful loss to the lending banks and financial institutions and corresponding wrongful gain to the accused persons and related entities, according to the statement.
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Earlier, the CBI had registered the case on the basis of complaints received from Union Bank of India (erstwhile Andhra Bank) and other Public Sector Banks of the consortium. The first charge sheet was filed in the case July 9 against four accused persons. With the filing of this charge sheet, a total of 15 accused persons, including senior officials and Group companies, have been chargesheeted in the case so far. Further investigation is continuing to ascertain the role of other accused persons and to investigate other allegations, the statement said.
The CBI’s Banking Securities Fraud Branch, Delhi, has registered nine FIRs against Reliance Communications Ltd. (RCom), Reliance Home Finance Ltd. (RHFL), Reliance Commercial Finance Ltd. (RCFL), Reliance Telecom Ltd. (RTL) and Reliance Capital Ltd. (RCL) on the basis of complaints received from various Public Sector Banks, LIC and EPFO.
The CBI had earlier filed six charge sheets in the Reliance ADA Group cases. The present charge sheet is the seventh, and the CBI has so far arrested seven accused persons.
The investigation in these cases is being monitored by the Supreme Court.
