The Central Bureau of Investigation (CBI) has apprehended Amit Bapna, former CFO of Reliance Capital Ltd, as part of its probe into Reliance ADA Group matters. Authorities allege Bapna, a key financial decision-maker, approved loans to intermediary firms despite knowing it violated RBI guidelines. Funds were reportedly diverted to various Reliance group entities, causing losses to banks and gains for the accused.
The Central Bureau of Investigation (CBI) has apprehended Amit Bapna, former CFO of Reliance Capital Ltd, as part of its probe into Reliance ADA Group matters. Authorities allege Bapna, a key financial decision-maker, approved loans to intermediary firms despite knowing it violated RBI guidelines. Funds were reportedly diverted to various Reliance group entities, causing losses to banks and gains for the accused.