CBI Files Chargesheet in ₹1,200 Crore Loan Fraud Case Linked to Reliance Communications

New Delhi: The CBI has filed a chargesheet in connection with a ₹1,200 crore loan fraud case involving Reliance Communications Ltd. A total of three chargesheets have now been filed in the case. The latest chargesheet, filed before the special CBI court in Mumbai, names Amitabh Jhunjhunwala, Group Managing Director of the Reliance ADA Group, as an accused. He has been charged with criminal conspiracy, criminal breach of trust and cheating.

According to the CBI, Amitabh allegedly led the conspiracy to obtain term loans worth ₹1,200 crore for Reliance Communications and Reliance Infratel by defrauding the State Bank of India (SBI). The agency said SBI suffered an estimated loss of ₹971.25 crore after the loans were not repaid. The case was registered based on a complaint filed by SBI. The total financial liability incurred by various entities in the case stands at ₹19,694.33 crore.

The first chargesheet, filed on May 29, named 16 accused, including Reliance Communications, five senior company officials and 10 bank officials. A subsequent chargesheet named Netizen Engineering Private Limited and its directors Anil Jamna Kaly and Tunu Sahu as accused. With the latest chargesheet, the total number of accused in the case has risen to 20.

The CBI said seven people have so far been arrested in cases linked to the Reliance ADA Group and all of them are currently in judicial custody. The investigation into the role of other individuals is continuing. The investigation is being conducted under the supervision of the Supreme Court.