CBI Questions Top Executive in Rs 57.47 Crore Bank Fraud Case

The CBI interrogated Amit Dangi, a senior executive at Authum Investment & Infrastructure Ltd, regarding the Rs 57.47 crore bank fraud case involving Reliance Commercial Finance Ltd. Dangi, a whole-time director at Authum Investment & Infrastructure Ltd., oversaw the assets of Reliance Commercial Finance Ltd and Reliance Home Finance Ltd, both under scrutiny.
Amit Dangi was summoned by the CBI for questioning at its headquarters and was examined for approximately seven hours. The CBI initiated a case on December 6, 2025, against Reliance Commercial Finance Ltd. in connection with the Rs. 57.47 crore bank fraud case, naming several individuals, including Devang Pravin Mody and Ravindra Somayajula Rao.
The complaint filed by the Bank of Maharashtra, triggered by a forensic audit report, alleged a significant diversion of funds. The consortium of 31 banks/financial institutions, including 13 public sector banks, had an exposure of Rs 4,097 crores. Additionally, complaints from the Bank of Maharashtra and Punjab National Bank highlighted a total exposure of Rs 302.38 crore.
Search warrants were obtained by the CBI from the Special Judge for CBI cases in Mumbai, leading to searches at the official and residential premises of Reliance Commercial Finance Ltd. and Devang Pravin Mody. These searches yielded incriminating documents.