ED has filed a prosecution complaint against two former Reliance (ADAG) group companies’ senior executives
The Enforcement Directorate (ED) has filed a prosecution complaint against two former senior executives of Reliance Anil Dhirubhai Ambani Group (ADAG) companies, Amitabh Jhunjhunwala, Amit Bapna, who are among 55 accused in a bank loan laundering case.Both were arrested in April 2026 in connection with an alleged bank loan fraud and money laundering case involving Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL), which is alleged to involve over ₹12,500 crore worth bank loan fraud and money laundering case, as registered by the ED. The prosecution complaint, also called chargesheet, will be presented for consideration before the concerned judge on July 1.ED AllegationAccording to the ED allegation, the majority of corporate loans were disbursed to 45 different shell companies that had negligible financial strength and no genuine business operations. These interconnected paper firms were allegedly operated and controlled directly by entities linked to theADAG.Special Judge Hasan Anzar remanded Amitabh Jhunjhunwala and Amit Bapna to judicial custody upon the conclusion of their interrogation by the ED. The accused, arrested by the ED on Thursday, were later brought back before the judge at the Rouse Avenue Court.Defence counsel—comprising Advocate Vijay Agarwal for Bapna and Advocate Sowjanya Sankaran for Jhunjhunwala—strongly opposed the agency’s plea for custodial interrogation. Additionally, the court had previously approved an application from the CBI to produce Jhunjhunwala before a specialised CBI court in Mumbai this past May.Published on June 12, 2026
