Former Reliance Capital CFO Amit Bapna arrested by CBI in ₹9,280-crore fraud case
On Saturday, the CBI arrested Amit Bapna, the former Chief Financial Officer of Reliance Capital, as part of an investigation into an alleged ₹9,280-crore bank fraud involving the Reliance ADA Group. The central agency has alleged that Bapna cleared loans for intermediary and conduit companies, even though he was aware that these transactions went against RBI regulations. According to the CBI, the borrowed money was channeled through these intermediary firms and ultimately diverted to other companies within the Reliance ADA Group.
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