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A section tribunal connected Wednesday (June 3, 2026) remanded Amitabh Jhunjhunwala, erstwhile Group MD of Anil Ambani-led Reliance Communications, successful the custody of the CBI till June 5 successful an alleged slope indebtedness fraud case.
Mr. Jhunjhunwala was produced earlier peculiar CBI tribunal justice J.P. Darekar. He had been arrested connected Monday (June 1, 2026) and placed successful judicial custody.
The CBI, represented by peculiar nationalist prosecutors A. Limosin and Jitendra Sharma, sought his custody for elaborate investigation.
Mr. Jhunjhunwala was earlier lodged successful the Tihar Central Jail successful Delhi successful judicial custody successful a related wealth laundering lawsuit being probed by the Enforcement Directorate.
He was brought to Mumbai connected Monday connected a accumulation warrant, and aft completing the formalities, the CBI arrested him.
As per the probe agency, Mr. Jhunjhunwala, arsenic radical managing manager of Reliance Communications, a Reliance ADAG firm, controlled cardinal aspects of the company's functioning including firm finance, banking and utilization of funds.
Loan funds received from banks were utilized arsenic per his instructions, the CBI alleged, adding that misuse of these funds caused the banks wrongful losses.
The bureau past week filed its archetypal complaint expanse successful the lawsuit against 16 persons, but did not sanction Mr. Jhunjhunwala.
The lawsuit was registered connected a ailment filed by the State Bank of India against Reliance Communications and Anil Ambani for allegedly causing a nonaccomplishment of ₹2,929.05 crore to the bank.
A consortium of 11 banks led by SBI had sanctioned 'Rupee Term Loans' to Reliance Communications. As per the FIR, the full vulnerability amounted to ₹19,694.33 crore and progressive 17 Public Sector Banks.
