NEW DELHI

The Enforcement Directorate has secured five days’ custody of two accused persons in connection with a case alleging diversion of funds from Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL) through shell companies.

The accused Amitabh Jhunjhunwala and Amit Bapna, former senior executives of Reliance (Anil Ambani) group entities, were arrested on Wednesday (April 15, 2026). They were produced before a special court that sent them to ED custody on Thursday (April 16, 2026).

The agency has alleged a well planned scheme to divert funds from RHFL and RCFL through shell entities controlled and operated by the group, on the pretext of corporate loans. It is probing a money trail allegedly involving about ₹11,500 crore.

In a statement, Reliance Group said Mr. Jhunjhunwala left the group in September 2019. “He had no association with the Group thereafter, including Reliance Infrastructure Limited and Reliance Power Limited. During his association, he served as the group managing director of the Reliance group, as well as vice-chairman and director of Reliance Capital Limited,” it said.

Mr. Bapna left the Reliance group in December 2019. “He had no association with the group, thereafter, including Reliance Infrastructure Limited and Reliance Power Limited. During his association, he served as the chief financial officer of Reliance Capital Limited, as well as director of Reliance Home Finance Limited,” said the group.