2 min readMay 30, 2026 09:19 AM IST
The Central Bureau of Investigation (CBI) on Thursday filed its first chargesheet in one of the cases linked to the Reliance ADA Group, naming 16 accused, including Reliance Communications Ltd (RCom), five senior company executives and 10 bank officials.
The chargesheet was filed before the Special Judge for CBI Cases in Mumbai in connection with RC0742025E0005, one of the multiple FIRs registered against companies linked to the Anil Ambani-led group.
Those named include officials of the State Bank of India (SBI), Bank of Maharashtra and the erstwhile Syndicate Bank. The accused have been charged with criminal conspiracy, cheating, criminal misappropriation under the IPC and criminal misconduct under the Prevention of Corruption Act.
According to the CBI, the chargesheet pertains to the alleged misuse and diversion of loans and credit facilities worth over Rs 2,000 crore sanctioned to Reliance Communications.
The agency alleged misuse of a Rs 1,200-crore term loan sanctioned by SBI, Rs 500-crore letter of credit facilities extended by Bank of Maharashtra and Rs 350-crore letter of credit facilities sanctioned by Syndicate Bank.
CBI said further investigation remains open to examine other loans sanctioned by consortium banks and to identify the role of additional conspirators in the alleged diversion and misappropriation of public funds. Supplementary chargesheets are expected to follow.
The FIR in the case was registered on the basis of a complaint by SBI against Reliance Communications Ltd and Anil Ambani for allegedly causing losses of Rs 2,929.05 crore to the bank.
According to the FIR, rupee term loans were sanctioned to Reliance Communications by a consortium of 11 banks led by SBI. The total exposure across 17 public sector banks stood at Rs 19,694.33 crore.
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CBI has also registered six additional FIRs against Reliance Communications (RCom), Reliance Home Finance Ltd (RHFL), Reliance Commercial Finance Ltd (RCFL) and Reliance Telecom Ltd (RTL) all of which remain under investigation. The probe into the seven cases registered against companies linked to the Reliance ADA Group is currently being monitored by the Supreme Court.
