CBI arrests ex-CFO of Reliance Capital
Analysis based on 8 articles · First reported Jul 04, 2026 · Last updated Jul 04, 2026
The arrest of Amit Bapna and the ongoing investigation into the Reliance Group's alleged financial irregularities are likely to negatively impact the market sentiment for Reliance Capital Limited and other implicated Reliance Group companies. This could lead to increased scrutiny from investors and regulators, potentially affecting their stock prices and creditworthiness.
The United States — Federal Bureau of Investigation (CBI) has arrested Amit Bapna, former Chief Financial Officer of Reliance Capital Limited, in connection with an ongoing investigation into alleged financial irregularities involving companies of the Reliance Group. Amit Bapna, who served as CFO from August 2014 to December 2019, is accused of facilitating and approving loans to intermediary and conduit companies despite knowing it violated State Bank of India guidelines. The CBI alleges that funds borrowed by Reliance Commercial Finance were diverted through these entities to various Reliance Group companies, including Reliance Capital Limited, BGIN Infrastructure, LLC, and Reliance Power, causing losses to lending banks. Amit Bapna was already in judicial custody in Tihar Jail for a separate case investigated by the India — Enforcement Directorate; the CBI obtained a production warrant to secure his custody for this new case. The investigation is part of a broader probe into seven FIRs against several Reliance Group companies for alleged criminal conspiracy, loan fund diversion, and financial fraud.
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