Jhunjhunwala key decision maker in RHFL and RCFL operations: ED

The ED in its preliminary report has alleged that arrested former Reliance ADAG Group MD Amitabh Jhunjhunwala was the key decision maker with respect to various operations of Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd. (RCFL) such as raising of funds, monitoring cash flow, monitoring Assets Under Management, analysis of Annual Operating Plans, disbursal of loans, etc.

Jhunjhunwala was arrested by ED on April 15, 2026 and under the ‘Grounds of Report’ prepared by probing sleuths stated that investigation conducted under PMLA has revealed a pre-conceived and well-planned scheme to divert/ siphon off public money from Mls Reliance Home Finance Limited (RHFL) and Mls Reliance Commercial Finance Limited (RCFL) through several shell/ paper companies under the pretext of Corporate Loans by cheating banks, shareholders, investors and other public institutions.