CBI files second chargesheet linking Reliance ADA executives to Rs 7,429 crore loan diversion
The CBI lodged a second chargesheet in the RHFL loan-diversion case, accusing three senior Reliance ADA Group executives and seven firms of siphoning Rs 7,429 crore.
The agency’s latest filing adds three senior Reliance ADA Group officials and seven corporate entities to the list of accused in the Reliance Home Finance loan-diversion probe. The case alleges that RHFL obtained funds from banks and funneled them through a network of intermediaries, diverting Rs 7,429 crore. This brings the total number of accused to fifteen, after an earlier chargesheet named four individuals. Investigators say the inquiry remains open to identify further participants.
Why it matters
It reveals a large-scale financial fraud investigation targeting senior executives of a major Indian conglomerate.
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