CBI Files Second Chargesheet in RCom Loan Fraud Case Against Netizen Engineering
The Central Bureau of Investigation (CBI) on Friday filed a second chargesheet in the loan fraud case involving Reliance Communications Limited (RCom). The chargesheet names Netizen Engineering Pvt. Ltd. (formerly Reliance Infocomm Engineering Pvt. Ltd.) and its two directors, Anil Kalya and Tunu Sahu, for alleged criminal conspiracy, criminal misappropriation, and cheating related to the diversion of funds.
The chargesheet was submitted before the Special Judge for CBI Cases in Mumbai. According to the CBI, its investigation found that Netizen Engineering served as a pass-through entity for the wilful diversion of funds, causing wrongful losses to lending banks while generating corresponding gains for the accused and related entities.
The case originates from a complaint filed by the State Bank of India (SBI). The total exposure of public sector banks and financial institutions in the case is Rs 19,694.33 crore, as stated in the First Information Report (FIR).
Previously, on May 29, the CBI had filed its first chargesheet against 16 accused, including RCom, five of its senior executives, and ten bank officials. The agency said further investigation remains open to determine the role of other individuals and examine additional aspects of the case.
The CBI has registered a total of seven FIRs against RCom, Reliance Home Finance Limited, Reliance Commercial Finance Limited, and Reliance Telecom Limited based on complaints from multiple public sector banks and the Life Insurance Corporation of India (LIC).
