CBI Arrests Ex-Reliance Capital CFO Amit Bapna In Loan Diversion Case, Sent To 4-Day Custody

New Delhi: The Central Bureau of Investigation (CBI) has arrested Amit Bapna, former Chief Financial Officer of Reliance Capital Ltd., in connection with the ongoing investigation into the Reliance ADA Group cases, the probe agency said on Saturday.

CBI said its investigation has revealed that Amit Bapna, who served as Chief Financial Officer of Reliance Capital Ltd. from August 2014 to December 2019, was one of the key decision-makers responsible for managing the financial affairs of the company.

He allegedly facilitated and approved loans to intermediary and conduit companies despite being aware that such lending was contrary to RBI guidelines and the sanction conditions governing borrowings from Public Sector Banks, CBI said.

Investigation further revealed that funds borrowed by Reliance Commercial Finance Limited (RCFL) were diverted through such intermediary entities to various Reliance ADA Group companies, including Reliance Capital Ltd., Reliance Infrastructure Ltd. and Reliance Power Ltd., thereby causing wrongful loss to the lending banks and corresponding wrongful gain to the accused persons and related entities, the probe agency added.

The agency further said that Amit Bapna was in judicial custody in a case being investigated by the Enforcement Directorate, Delhi, and was lodged in Central Jail, Tihar, New Delhi.

In order to secure his custody in the present case, the CBI obtained a production warrant from the Hon'ble Special Judge for CBI Cases, Mumbai. Accordingly, he was produced before the CBI Special Court, Mumbai and arrested on 04.07.2026. The Hon'ble Court has granted four days' CBI Custody of the accused for further interrogation, they added.

"It may also be recalled that the CBI filed its first chargesheet in the RCom case on 29.05.2026 against 16 accused persons, including the company, five senior executives of RCom and ten bank officials. With the arrest of Amit Bapna, the CBI has so far arrested six accused persons in the Reliance ADA Group cases," the agency added.
Further investigation is underway.