The Central Bureau of Investigation (CBI) on Friday filed the first chargesheet against 16 accused entities and persons, including Reliance Communications Limited and its five senior executives, ten bank officials of the State Bank of India, Bank of Maharashtra, and the erstwhile Syndicate Bank, for criminal offences of cheating and corruption.The CBI had registered an FIR, number RC0742025E0005, on the basis of a complaint received from the SBI against M/s Reliance Communications Limited and Anil D Ambani for allegedly causing a loss of ₹2,929.05 crore to the Bank. Rupee term loans were sanctioned to M/s Reliance Communications Limited by a consortium of 11 banks led by the SBI.The chargesheet filed in one of the Reliance ADA Group cases covers the investigation pertaining to the alleged misuse of the ₹1,200 crore term loan sanctioned by the SBI, ₹500 crore Letter of Credit facilities sanctioned by Bank of Maharashtra, and ₹350 crore Letter of Credit facilities sanctioned by the erstwhile Syndicate Bank, the CBI officials said.They have been accused of indulging in criminal conspiracy, cheating, criminal misappropriation under the erstwhile Indian Penal Code (IPC), and criminal misconduct under the Prevention of Corruption Act.The agency stated that further investigation in the case has been kept open to probe other loans sanctioned by the consortium banks and to ascertain the role of other conspirators involved in the alleged diversion and misappropriation of public funds. Supplementary chargesheets are expected to be filed soon in the case.As per the FIR, the total exposure amounted to ₹19,694.33 crore involving 17 public sector banks. The CBI has also registered 6 FIRs against Rcom, RHFL, RCFL and RTL which are under investigation.The investigation in the seven RCs registered by the CBI to investigate the alleged fraud committed by Anil Ambani-led Reliance Group companies is being monitored by the Supreme Court.Published on May 29, 2026