CBI files first charge sheet in Reliance ADA Group bank fraud, 16 accused
Synopsis
The CBI has filed its first charge sheet in the Reliance ADA Group bank fraud saga — naming 16 people including company executives and bank officials from three public sector lenders. With total consortium exposure at ₹19,694.33 crore across 17 banks and the Supreme Court watching, this is far from the last word in the case.
Key Takeaways
The CBI filed its first charge sheet on 29 May in the Reliance ADA Group bank fraud case before the Special Judge for CBI Cases, Mumbai .
16 persons are named, including 5 senior RCom executives and 10 bank officials from SBI , Bank of Maharashtra , and erstwhile Syndicate Bank .
The charge sheet covers alleged misuse of ₹1,200 crore (SBI term loan), ₹500 crore (Bank of Maharashtra LC), and ₹350 crore (Syndicate Bank LC).
Total consortium exposure across 17 public sector banks stands at ₹19,694.33 crore as per the FIR.
The Supreme Court of India is monitoring the CBI's investigation into all seven registered cases against Reliance Group entities.
Supplementary charge sheets are expected soon; further investigation remains open to probe other loans and additional accused.
The Central Bureau of Investigation (CBI) on Friday, 29 May filed its first charge sheet in one of the Reliance ADA Group bank fraud cases, naming 16 persons — including senior company executives and bank officials — in connection with an alleged loss of ₹2,929.05 crore to public sector lenders. The charge sheet was filed before the Special Judge for CBI Cases, Mumbai.
Who Has Been Charged
The charge sheet names persons from Reliance Communications Limited (RCom), including five senior executives of the company, alongside 10 bank officials from the State Bank of India (SBI), Bank of Maharashtra, and the erstwhile Syndicate Bank. The accused face charges of criminal conspiracy, cheating, criminal misappropriation under the Indian Penal Code, and criminal misconduct under the Prevention of Corruption Act.
What the Charge Sheet Covers
According to the CBI, the charge sheet pertains to the alleged misuse of a ₹1,200 crore Term Loan sanctioned by SBI, a ₹500 crore Letter of Credit facility from Bank of Maharashtra, and a ₹350 crore Letter of Credit facility from the erstwhile Syndicate Bank. The case was originally registered on a complaint from SBI against Reliance Communications Limited and Anil Ambani for allegedly causing the ₹2,929.05 crore loss.
Scale of the Alleged Fraud
The broader scope of the alleged fraud is significantly larger. As per the FIR, the total exposure across a consortium of 17 public sector banks — led by SBI — amounts to ₹19,694.33 crore. The Rupee Term Loans were sanctioned to RCom by a consortium of 11 banks. The CBI has also registered six additional FIRs against Reliance ADA Group entities — RCom, RHFL, RCFL, and RTL — all of which remain under active investigation.
Supreme Court Oversight and What Comes Next
Notably, the investigation into the seven cases registered by the CBI against Anil Ambani-led Reliance Group companies is being monitored by the Supreme Court of India, according to the agency's statement. The CBI has kept further investigation open to probe other loans sanctioned by the consortium banks and to identify additional conspirators. Supplementary charge sheets are expected to be filed shortly, the agency said.
This first charge sheet marks a significant procedural milestone in one of India's largest alleged corporate bank fraud cases, with the Supreme Court's continued oversight signalling the institutional weight attached to the outcome.
Point of View
000 crore and six more FIRs still under investigation, this charge sheet covers only a fraction of the alleged wrongdoing. The inclusion of bank officials alongside company executives is significant: it points to potential insider facilitation, a pattern seen in several high-profile PSB fraud cases. The real accountability test will come at trial, where the quality of evidence — not the size of the charge sheet — will determine outcomes.
NationPress
21 Jul 2026
Frequently Asked Questions
What is the CBI charge sheet filed against Reliance ADA Group about?
The CBI has filed a charge sheet against 16 persons — including Reliance Communications executives and officials from SBI, Bank of Maharashtra, and erstwhile Syndicate Bank — for allegedly causing a loss of ₹2,929.05 crore to public sector lenders. The charges include criminal conspiracy, cheating, and criminal misconduct under the Prevention of Corruption Act.
Who are the 16 persons named in the CBI charge sheet?
The 16 accused include five senior executives of Reliance Communications Limited and 10 bank officials from SBI, Bank of Maharashtra, and the erstwhile Syndicate Bank. The charge sheet was filed before the Special Judge for CBI Cases in Mumbai.
What is the total scale of the alleged Reliance ADA Group bank fraud?
According to the FIR, the total exposure involving 17 public sector banks amounts to ₹19,694.33 crore. The current charge sheet covers a subset of this — specifically a ₹1,200 crore SBI term loan, a ₹500 crore Bank of Maharashtra letter of credit, and a ₹350 crore Syndicate Bank letter of credit.
Is the Supreme Court involved in the Reliance ADA Group CBI probe?
Yes. The investigation into all seven cases registered by the CBI against Anil Ambani-led Reliance Group companies is being monitored by the Supreme Court of India, according to the CBI's official statement.
Will there be more charge sheets in the Reliance ADA Group case?
The CBI has kept further investigation open to probe other loans sanctioned by consortium banks and to identify additional conspirators. The agency has stated that supplementary charge sheets are expected to be filed soon.
