Ex-Reliance ADAG executive Jhunjhunwala in CBI custody till June 5; ‘central figure in financial ops’
Mumbai: Amitabh Jhunjhunwala, ex-Group MD of Anil Ambani’s Reliance Communications, personally got a ₹1,200 crore loan sanctioned from SBI in August 2016, which remained unpaid, causing a ₹971.25 crore loss to the bank, the CBI told a court here on Wednesday.
Terming Jhunjhunwala a central figure in the group’s financial operations, the CBI claimed that funds received from banks were utilised as per his instructions, and their misuse resulted in wrongful losses.
Jhunjhunwala’s questioning is also essential to find out the ultimate beneficiaries of the defrauded loan amount, which is within his exclusive knowledge, the CBI added.
