Overview
- The CBI filed its first formal chargesheet in the case on Friday, naming 16 accused including Reliance Communications, five senior RCom executives and 10 public‑sector bank officials.
- Those named face offences under the Indian Penal Code for criminal conspiracy, cheating and criminal misappropriation and charges under the Prevention of Corruption Act for alleged misconduct by public servants.
- The chargesheet focuses on the alleged misuse of three facilities—a Rs 1,200 crore SBI term loan and Rs 500 crore and Rs 350 crore Letter of Credit (LC) facilities from Bank of Maharashtra and the erstwhile Syndicate Bank—totaling about Rs 2,050 crore.
- The case began with an SBI complaint alleging a Rs 2,929.05 crore loss and sits inside a larger probe that records consortium exposure of Rs 19,694.33 crore across 17 public sector banks and seven related FIRs.
- The CBI says the investigation remains open, supplementary chargesheets are expected and the wider probe continues under Supreme Court monitoring which could shape further prosecutions and recovery efforts.