The CBI has arrested Amitabh Jhunjhunwala, ex-Group Managing Director of Reliance Communications, for his alleged role in a bank fraud involving misutilisation of loan funds.
Reliance Communications ex-MD arrested for facilitating ₹6,015 crore in bank loans misappropriated by RCom executives. Trend signal: escalating governance failures highlight need for tighter budget controls, audit frameworks, and multi-tier compliance checks.
Jhunjhunwala was previously in judicial custody in a case being probed by the ED
Jun 01, 2026
10:46 pm
What's the storyAmitabh Jhunjhunwala, the former Group Managing Director of Reliance Communications, has been arrested by the Central Bureau of Investigation (CBI) in a major bank fraud case.
The CBI alleges that Jhunjhunwala was instrumental in securing loans from various banks and that these funds were misused by other officials of the RCom Group.
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