National
10 Jul, 2026
Four chargesheeted by CBI in RHFL bank 'fraud' case
Business To Business, New Delhi, 10th July, 2026: The Central Bureau of Investigation (CBI) has filed its first chargesheet in connection with the alleged diversion of funds by Reliance Home Finance Limited (RHFL), a case involving an estimated loss of over ₹3,500 crore to banks.
The chargesheet, filed on Thursday before a Special Court in Mumbai, names four accused:
- Reliance Home Finance Limited (RHFL)
- Ravindra Sudhalkar, former Executive Director and CEO of RHFL
- Krishanan Gopalakrishnan Iyer, former Chief Risk Officer of RHFL
- Dhananjay Bhagwanprasad Tiwari, former Chief Credit & Risk Officer of Reliance Capital Ltd.
According to the CBI, the accused have been charged with offences including
criminal conspiracy and
cheating, allegedly causing substantial losses to public sector banks.
The agency's investigation found that funds borrowed by RHFL were allegedly diverted through intermediary and conduit entities to various companies belonging to the
Reliance ADA Group, instead of being used for their intended purposes.
The chargesheet marks the first major prosecution in the CBI's investigation into the alleged financial irregularities involving RHFL and the diversion of bank funds.