New Delhi: A Delhi court on Saturday rejected the bail application of Amitabh Jhunjhunwala, a former senior executive of the Reliance Anil Dhirubhai Ambani Group (ADAG) who is in judicial custody in connection with an Enforcement Directorate (ED) money laundering investigation.
The Rouse Avenue Court dismissed Jhunjhunwala’s plea for regular bail which was sought on medical grounds.
In its order, the court observed that concerns regarding the possibility of witnesses being influenced could not be ignored.
“In the instant case, the applicant/accused is alleged to be the principal architect of the crime committed in this case and has full control over the staff members who are cited as witnesses in this case and herefore the apprehension that applicant/accused may influence the witnesses and tamper with the evidence cannot be ignored. The investigation in this case is still underway and considering the nature and gravity of the accusation, the apprehensions of the ED cannot be brushed aside,” according to the court.
“In view of the observations above, this Court does not find sufficient grounds to enlarge the accused/applicant on bail at this stage. Accordingly, the application stands dismissed,” the court said.
Jhunjhunwala was arrested by the ED in April 2025 in connection with an alleged money laundering probe involving Reliance Home Finance Ltd. (RHFL) and Reliance Commercial Finance Ltd. (RCFL), and has remained in judicial custody since then.
Separately, the Central Bureau of Investigation (CBI) last month filed a second supplementary chargesheet in a case related to Reliance Communications Ltd. (RCom), naming Jhunjhunwala and alleging offences including criminal conspiracy, cheating and criminal misappropriation.
According to the CBI, its investigation found that Jhunjhunwala, who held senior positions within the Reliance ADA Group, was allegedly involved in obtaining a term loan of Rs 1,200 crore for Reliance Communications and Reliance Infratel. The agency has alleged that the loans were not repaid, resulting in a loss of about Rs 971.25 crore to State Bank of India (SBI).
The case was registered on a complaint from SBI. The CBI has previously stated that the total exposure of public sector banks and financial institutions in the matter is about Rs 19,694 crore.
The agency has so far filed multiple chargesheets and named 20 accused in the case. Investigations into other aspects of the matter and additional accused are continuing. The Supreme Court is monitoring the broader investigation into the Reliance ADA Group-related cases.
(IANS)
