The Enforcement Directorate (ED) has filed a Prosecution Complaint, equivalent to a chargesheet, against former senior executives of Reliance Anil Dhirubhai Ambani Group (ADAG) companies and several others in connection with the alleged bank loan fraud-linked money laundering case involving Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL).
According to officials, the prosecution complaint names former executives Amitabh Jhunjhunwala and Amit Bapna among a total of 55 accused persons. The chargesheet has been filed before a special court under the provisions of the Prevention of Money Laundering Act (PMLA).
Executives arrested earlier this year
The development follows the arrest of Amitabh Jhunjhunwala and Amit Bapna by the Enforcement Directorate in April 2026 as part of its investigation into the alleged financial irregularities. The ED has been probing allegations related to the diversion and misuse of bank loan funds linked to RHFL and RCFL. The case is based on findings related to suspected financial transactions and alleged violations that are being examined under anti-money laundering laws. Investigators have been scrutinising the role of company officials, borrowers and other entities allegedly connected to the movement of funds under investigation.
Chargesheet names 55 accused
Officials said the prosecution complaint includes details of the alleged money trail, financial transactions and the role of various individuals and entities identified during the course of the investigation. The filing of the chargesheet marks a significant stage in the ED’s probe, as it formally places the agency’s findings before the court for consideration. The list of accused includes individuals and entities that the agency believes were linked to the alleged laundering of proceeds generated from the suspected bank loan fraud.
Court to consider complaint on July 1
The prosecution complaint has been submitted before the competent court, which is scheduled to take up the matter for consideration on July 1. At this stage, the court will examine the complaint and supporting documents filed by the Enforcement Directorate before deciding on the next course of legal proceedings. The filing does not amount to a finding of guilt, and the allegations made by the investigating agency are subject to judicial scrutiny during the legal process.
What happens next?
Attention will now shift to the court proceedings scheduled for July 1, when the prosecution complaint is expected to come up before the concerned judge. The court will examine whether the material submitted by the Enforcement Directorate warrants further proceedings against the accused persons named in the complaint. Meanwhile, the ED’s investigation into the alleged money laundering and bank loan fraud case continues, with officials indicating that further developments may emerge as the probe progresses.
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