Overview
- The CBI produced Amitabh Jhunjhunwala from Tihar and formally arrested him on Monday, remanding him to judicial custody at Mumbai’s Arthur Road Jail for further interrogation.
- The agency filed a chargesheet on May 29 that named 16 accused including Reliance Communications, five senior executives and 10 bank officials in alleged misuse of bank facilities.
- The chargesheet cites alleged misuse of specific sanctioned facilities — a Rs 1,200 crore SBI term loan, Rs 500 crore letter of credit from Bank of Maharashtra and Rs 350 crore letter of credit from Syndicate Bank — and an SBI loss claimed at Rs 2,929.05 crore.
- CBI says Jhunjhunwala coordinated with senior bank officials to secure loans and directed other RCom officers on fund use, and it alleges he acted on promoters’ instructions leading to wrongful losses and NPAs.
- Multiple related FIRs remain open against RCom group firms, a parallel ED money‑laundering probe continues, and the Supreme Court is monitoring the broader investigation which could affect bank recoveries and further prosecutions.