By Admin 
The Central Bureau of Investigation (CBI) has registered a case against two big companies of Reliance ADA Group, Reliance Commercial Finance Limited (RCFL) and Reliance Home Finance Limited (RHFL) in two separate cases of bank fraud. In both the cases, it is alleged that the companies cheated many banks, due to which the banks suffered losses worth crores of rupees.
RCFL accused of fraud of Rs 57.47 crore
The first case in this is of bank fraud of Rs 57.47 crore on RCFL. On the complaint of Bank of Maharashtra, CBI has registered a criminal case against Reliance Commercial Finance Limited, its directors and some unknown bank officials. RCFL’s account was declared NPA on March 25, 2020. On October 4, 2025, the bank put it in the category of fraud. The bank alleges that the company caused a loss of Rs 57.47 crore to them.
CBI raided, found many important evidences
According to Bank of Maharashtra, the company was taking loans totaling Rs 9,280 crore from several banks and NBFCs. CBI will now investigate whether all these banks have also been caused similar losses. In this case, after the warrant received from the court, CBI started a raid operation at the office of RCFL in Mumbai and the house of company director Devang Praveen Modi in Pune. CBI has found many important documents during the raid.
RHFL accused of bank fraud of Rs 228.06 crore
At the same time, CBI has taken major action against Reliance Home Finance Limited (RHFL), a Reliance ADA Group company, in a bank fraud case of Rs 228.06 crore. The agency has registered a criminal case against the company, its directors and some unidentified bank officials. This action has been taken on the basis of the complaint of Union Bank of India.
The bank alleges that the company conspired and took the loan wrongly and caused a loss of Rs 228.06 crore to the bank. RHFL’s account was declared NPA on September 30, 2019 and was put in the fraud category on October 10, 2024.
What was revealed in the CBI investigation?
According to Union Bank, Reliance Home Finance (RHFL) had taken total loans of more than Rs 5,572 crore from various banks and financial institutions. Now CBI is investigating the entire matter whether the company cheated all the banks in the same way.
Violent raid operation started after court order
CBI took search warrant from the court and started raids at several places in Mumbai on Tuesday (December 9, 2025). Among the places where CBI searched
• Two offices of Reliance Home Finance (RHFL).
• House of Jai Anmol Ambani (son of Anil Ambani and director of the company at that time)
• Includes the house of former RHFL CEO Ravindra Sudhalkar.
During the raid, many important documents were found, which have been taken into custody by the CBI. At present the search operation is going on.
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