The Central Bureau of Investigation (CBI) filed a second chargesheet in the Reliance Communications Limited (RCom) loan fraud case. The chargesheet names a company and two directors for alleged criminal conspiracy, criminal misappropriation, and cheating related to fund diversion. M/s Netizen Engineering Pvt. Ltd. and its directors, Anil Kalya and Tunu Sahu, are implicated in the case.
The CBI investigation revealed that Netizen Engineering Pvt. Ltd. was allegedly used by RCom as a pass-through entity for fund diversion. This action caused losses to lending banks and gains to the accused and related entities. The case was initiated based on a complaint from the State Bank of India.
Public sector banks and financial institutions have an exposure of Rs 19,694.33 crore in this case, as per the FIR. The CBI had previously filed a chargesheet against 16 accused, including RCom and senior executives, on May 29. Further investigations are ongoing to explore the involvement of other accused persons and additional aspects of the case.
The CBI has registered multiple FIRs against RCom, Reliance Home Finance Limited (RHFL), Reliance Commercial Finance Limited (RCFL), and Reliance Telecom Limited (RTL) based on complaints from public sector banks and the Life Insurance Corporation of India (LIC).
