Mumbai, September 7, 2026: The Central Bureau of Investigation (CBI) has filed the supplementary chargesheet on Monday in the Reliance Commercial Finance Ltd. (RCFL) case before the Special Judge for CBI Cases, Mumbai, against 17 accused persons, including three executives of the Reliance ADA Group, eight private companies, and six bank officials associated with Bank of Baroda, Punjab National Bank and Indian Overseas Bank.
The accused have been chargesheeted for offences of criminal conspiracy, criminal misappropriation and cheating under the Indian Penal Code, along with offences under the Prevention of Corruption Act.
Funds Allegedly Diverted
Investigation so far has revealed that funds borrowed by Reliance Commercial Finance Ltd. were allegedly diverted to the extent of Rs 6,229.54 crore 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 financial institutions and corresponding wrongful gain to the accused persons and related entities, the agency said in a statement on Monday.
CBI Case And Chargesheet
The CBI had registered the case based on complaints received from Bank of Maharashtra and other public sector banks of the consortium. The total loss caused to all banks, financial institutions and other lenders is approximately Rs 9,280 crore.
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The first chargesheet was filed in the case on July 7, 2026, against seven accused persons. With the filing of the present supplementary chargesheet, a total of 24 accused persons, including individuals and companies, have been chargesheeted in the case so far.
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