New Delhi: The CBI has filed its first chargesheet related to alleged loss of over Rs 3,500 crore caused to banks by the Reliance Home Finance Limited (RHFL) by diverting funds, officials said.
In its chargesheet filed on Thursday before the Special Court, Mumbai, the agency has named four accused, including RHFL, two former senior executives of RHFL, Ravindra Sudhalkar (executive director & CEO) and Krishanan Gopalakrishnan Iyer (chief risk officer), and former senior executive of Reliance Capital Ltd, Dhananjay Bhagwanprasad Tiwari (chief credit & risk officer) for offences of criminal conspiracy and cheating with intent to cause huge losses to public sector banks, the agency said.
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The CBI probe has revealed that funds borrowed by RHFL were diverted through intermediary and conduit entities to various Reliance ADA Group companies, the CBI spokesperson said.
"This diversion was done in violation of the terms and conditions governing such borrowings, thereby causing wrongful loss to the lending banks and corresponding wrongful gain to the accused persons and related entities," the agency said.
The CBI registered the case on the basis of complaints received from Union Bank of India and other PSU banks of the consortium, it said.
"The total loss caused to 10 public sector banks of the consortium is Rs 3,526.35 crores," the spokesperson said.
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The agency has kept open the investigation to ascertain the role of other directors, entities and public servants involved in causing wrongful loss to the public sector banks.
"Supplementary chargesheets are expected to be filed in due course," the spokesperson said.
The agency has arrested two Sudhalkar, former director of RHFL Amit Bapna in the case. "Both the accused are presently in judicial custody," the spokesperson said.
The CBI has registered seven FIRs against Reliance Communications Limited (RCom), Reliance Home Finance Limited (RHFL), Reliance Commercial Finance Limited (RCFL) and Reliance Telecom Limited (RTL) on the basis of complaints received from various public sector banks and LIC.
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