Daijiworld Media Network - Mumbai

Mumbai, Dec 9: The Central Bureau of Investigation (CBI) has registered a criminal case against Reliance Commercial Finance Ltd (RCFL), its promoters, directors, and unknown bank officials for allegedly causing a wrongful loss of Rs 57.47 crore to the Bank of Maharashtra.

According to the agency, RCFL — part of the Reliance ADA Group — is accused of criminal conspiracy, cheating, and criminal misconduct. The Bank of Maharashtra had declared the RCFL loan account as a non-performing asset (NPA) on March 25, 2020 and later classified it as fraud on October 4, 2025.

CBI noted that RCFL had availed loans amounting to Rs 9,280 crore from 31 financial institutions, including the Bank of Maharashtra. The agency said it will investigate the possibility of frau

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