CBI files 2nd charge sheet in RHFL case, 15 accused so far
Synopsis
The CBI has now charge-sheeted 15 individuals and entities across the Reliance Home Finance case, with its latest filing naming three senior Anil Ambani group executives and seven group companies. At the heart of the case is an alleged ₹7,429.16 crore diversion through conduit entities — and with the Supreme Court directly monitoring the probe, the legal net around the Reliance ADA Group is tightening significantly.
Key Takeaways
The CBI filed a second charge sheet in the RHFL case on 1 October 2026 before the Special Judge for CBI Cases, Mumbai .
11 new accused named, including Amit Bapna (RHFL CFO), Amitabh Jhunjhunwala (RCL MD & Vice Chairman), and Suresh Nagarajan (Reliance Power CFO).
Total accused charge-sheeted in the RHFL case now stands at 15 ; this is the 7th charge sheet across all Reliance ADA Group cases.
Alleged fund diversion of ₹7,429.16 crore through intermediary entities, causing wrongful losses to lending banks.
The Supreme Court is directly monitoring the investigation; 7 arrests have been made across related cases so far.
The CBI has registered 9 FIRs against Reliance ADA Group entities on complaints from public sector banks, LIC , and EPFO .
The Central Bureau of Investigation (CBI) on 1 October 2026 filed a second charge sheet in the Reliance Home Finance Ltd. (RHFL) fraud case before the Special Judge for CBI Cases, Mumbai, naming 11 accused — including three senior executives of the Anil Ambani-led Reliance ADA Group. With this filing, the total number of accused charge-sheeted in the case has risen to 15.
Key Accused Named
The three top executives charge-sheeted are Amit Bapna, Director and CFO of RHFL; Amitabh Jhunjhunwala, Managing Director and Vice Chairman of Reliance Capital Ltd. (RCL); and Suresh Nagarajan, CFO of Reliance Power Ltd. Also named is Vijay Napawaliya, a Chartered Accountant who served as Statutory Auditor of RHFL.
Seven companies have also been charge-sheeted: 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. The accused face charges of criminal conspiracy and cheating under the Indian Penal Code.
The Alleged Fraud
According to investigators, funds totalling ₹7,429.16 crore borrowed by RHFL were allegedly diverted through intermediary and conduit entities to various Reliance ADA Group companies, in violation of terms set by lenders. The alleged diversion is said to have caused wrongful losses to the lending banks and financial institutions while resulting in corresponding wrongful gains for the accused and related entities.
The CBI originally registered the case following complaints from Union Bank of India (formerly Andhra Bank) and other public sector banks in the lending consortium. The first charge sheet in the RHFL matter was filed on 9 July against four accused persons.
Broader Reliance ADA Probe
The present charge sheet is the seventh overall filed by the CBI across its broader Reliance ADA Group investigations. The agency's Banking Securities Fraud Branch, Delhi, has registered nine FIRs against group entities including Reliance Communications Ltd. (RCom), Reliance Commercial Finance Ltd. (RCFL), Reliance Telecom Ltd. (RTL), and RCL, based on complaints from public sector banks, LIC, and EPFO. Seven accused persons have been arrested so far across these cases.
Supreme Court Oversight
Notably, the investigation is being monitored by the Supreme Court — an indication of the scale and sensitivity of the alleged financial misconduct. Further investigation is ongoing to determine the roles of other individuals and probe additional allegations, according to officials. The expanding charge sheet count and the court's direct oversight suggest the legal proceedings are far from their conclusion.
Point of View
Not narrowing. Naming a statutory auditor alongside CFOs and group companies is significant — it puts professional gatekeepers in the frame, a pattern regulators and courts have increasingly insisted upon in corporate fraud cases. The Supreme Court's direct monitoring is the single most consequential detail here: it constrains the pace and limits the scope for procedural delays that have historically blunted white-collar prosecutions in India. The central question now is whether the alleged ₹7,429.16 crore diversion trail leads further up the Reliance ADA chain — something the CBI itself has signalled by stating that investigation into 'other accused persons' is continuing.
NationPress
1 Oct 2026
Frequently Asked Questions
What is the CBI's second charge sheet in the Reliance Home Finance case about?
The CBI's second charge sheet in the RHFL case, filed on 1 October 2026, names 11 accused — including three senior Reliance ADA Group executives and seven group companies — for alleged criminal conspiracy and cheating. Investigators allege that ₹7,429.16 crore borrowed by RHFL was diverted through conduit entities to Reliance ADA Group companies, causing wrongful losses to lenders.
Who are the key individuals named in the second charge sheet?
The three executives named are Amit Bapna (RHFL Director and CFO), Amitabh Jhunjhunwala (RCL Managing Director and Vice Chairman), and Suresh Nagarajan (Reliance Power CFO). Vijay Napawaliya, a Chartered Accountant and Statutory Auditor of RHFL, has also been charge-sheeted as a private individual.
How many accused have been charge-sheeted in the RHFL case in total?
With the second charge sheet, a total of 15 accused — including senior officials and group companies — have been charge-sheeted in the RHFL case so far. The first charge sheet, filed on 9 July, had named four accused persons.
What is the scale of the CBI's broader probe into Reliance ADA Group companies?
The CBI has registered nine FIRs against Reliance ADA Group entities including RCom, RHFL, RCFL, RTL, and RCL on complaints from public sector banks, LIC, and EPFO. This is the seventh charge sheet filed across all these cases, and seven people have been arrested so far.
Why is the Supreme Court monitoring the Reliance ADA investigation?
The Supreme Court is directly overseeing the investigation, reflecting the size and systemic significance of the alleged fraud involving public sector banks, LIC, and EPFO. This oversight is intended to ensure that the probe proceeds without undue delay and that findings are placed before a higher judicial authority.
