The CBI arrested former Reliance Capital CFO Amit Bapna in its investigation into alleged loan diversion involving Reliance ADA Group companies. The agency alleges he approved loans to intermediary firms, causing losses to public sector banks and wrongful gains to related entities
The CBI has arrested former RCFL CEO Devang Mody and former RHFL CEO Ravindra Sudhalkar in separate cases linked to an alleged Rs 7,623 crore fraud involving multiple public sector banks. The agency alleges diversion of borrowed funds to Reliance ADA Group companies
The Central Bureau of Investigation conducted searches at multiple Mumbai locations linked to Reliance ADA Group firms over alleged ₹27,337 crore bank fraud. The probe covers Reliance Telecom and finance companies, with arrests already made and investigation monitored by the Supreme Court of India
The CBI conducted searches at 17 premises in Mumbai in connection with cases registered against Reliance ADA Group companies over alleged bank fraud. Investigators seized incriminating documents and said multiple intermediary firms were found operating from the same address
