The Central Bureau of Investigation (CBI) has arrested the former chief financial officer of Reliance Capital Limited, Amit Bapna, in connection with its ongoing investigation into Reliance ADA Group cases, officials said on Saturday (July 4, 2026).

The federal agency has alleged that Bapna, who served as the CFO of Reliance Capital Limited 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,” a spokesperson of the CBI said in a statement.

No immediate reaction was available from the company.

The CBI probe has shown that funds borrowed by Reliance Commercial Finance Limited (RCFL) were diverted through such intermediary entities to various Reliance ADA Group companies, including Reliance Capital Limited, Reliance Infrastructure Limited and Reliance Power Limited, thereby causing wrongful loss to the lending banks and corresponding wrongful gain to the accused persons and related entities, the spokesperson said.

Bapna was already in judicial custody in a case being probed by the Enforcement Directorate (ED) and was lodged in the Tihar jail here.

“In order to secure his custody in the present case, the CBI obtained a production warrant from the Special Judge for CBI cases, Mumbai. Accordingly, he was produced before the CBI Special Court, Mumbai, and arrested on 04.07.2026,” the spokesperson said.

Bapna has been sent to four days of police custody by the special court, the spokesperson added.

The CBI has registered seven FIRs against Reliance Communications Limited (RCom), Reliance Home Finance Limited (RHFL), Reliance Commercial Finance Limited (RCFL) and Reliance Telecom Limited (RTL) based on complaints received from various public sector banks and the Life Insurance Corporation of India (LIC).

The CBI filed its first chargesheet in the RCom case on May 29 against 16 accused, including the company, five senior executives of RCom and 10 bank officials.

“With the arrest of Amit Bapna, the CBI has so far arrested six accused persons in the Reliance ADA Group cases,” the spokesperson of the agency said.