Overview
- The CBI filed the first chargesheet in the RHFL case that names three former executives and the company for criminal conspiracy and cheating connected to loan diversion.
- The agency alleges funds borrowed by Reliance Home Finance were routed through intermediary and conduit entities to group companies in breach of loan terms, producing wrongful gain to accused parties.
- The chargesheet names Ravindra Sudhalkar, Krishanan Gopalakrishnan Iyer and Dhananjay Bhagwanprasad Tiwari, and the CBI has already arrested two accused who remain in judicial custody.
- The agency says the diversion caused a total loss of Rs 3,526.35 crore to a consortium of 10 public sector banks, and further investigation is open to examine other directors, entities and public servants.
- This filing, made on Thursday, July 9, is the third chargesheet in a coordinated CBI probe of Reliance ADA Group firms and is being watched by the Supreme Court with supplementary chargesheets expected.