Court remands Anil Ambani’s former aide Jhunjhunwala to CBI custody till June 5 | Mumbai News
4 min readMumbaiJun 3, 2026 08:40 PM IST
A special court on Wednesday remanded Amitabh Jhunjhunwala, a former top executive of the Reliance-ADAG group, to CBI custody till June 5 in connection with a probe into an alleged bank loan fraud case.
He was produced before a special court designated under the Central Bureau of Investigation (CBI) Act presided over by Judge J P Darekar. On Monday, the special court had allowed the CBI to formally arrest Jhunjhunwala. He was sent to judicial custody at Arthur Road Jail in Mumbai until the arrest formalities were completed. The court had directed jail authorities to provide him with “proper bedding, care and medical treatment, if required, as per rules”.
Earlier, he was lodged in Tihar Central Prison in Delhi in judicial custody in a money laundering case and was brought to Mumbai on a production warrant.
The Enforcement Directorate (ED) had arrested the former vice-chairman of Reliance Capital for an alleged multi-crore financial fraud involving siphoning of funds through group entities controlled by industrialist Anil Ambani.
The CBI had alleged that loan funds were misused on Jhunjhunwala’s directions, resulting in wrongful loss to the banks. The agency has not named him in the chargesheet in the case related to the alleged misuse of a term loan worth nearly Rs 2,000 crore and letters of credit sanctioned by three banks. However, it claimed the probe against Jhunjhunwala was ongoing.
After he was produced before the court on Wednesday, special public prosecutors A Limosin and Jitendra Sharma for the CBI sought his custody for a detailed probe, which the court accepted and sent him to CBI custody till Friday.
The CBI in its remand application stated the case was registered in August 2025, based on a State Bank of India (SBI) complaint against Reliance Communications (RCom), its promoter Anil Ambani, unknown public servants and others for causing Rs 2,929 crore loss to the bank.
Story continues below this ad
The agency stated that Jhunjhunwala, who was RCom’s group managing director (MD), was “the main person who dealt with senior formations of the bank for loans/advances” and the “main link between management [and] senior officials of the banks”, and therefore he “can provide important leads about management/utilisation of funds borrowed from banks”.
The CBI further claimed that Jhunjhunwala can also “provide inputs as regards use/round-tripping of funds discounted by Reliance Infratel Limited on the strength of letters of credit opened in its favour by RCom”, along with leads to the role of any public servant extending undue advantage to the company.
Therefore, Jhunjhunwala was influential and would derail the probe; his custody was required “to unearth the criminal conspiracy orchestrated by the accused company, its promoters/directors & representatives and public servants”, it added.
The agency said his confrontation with other accused to identify the conspiracy was required so that the “real culprits, who were instrumental in causing wrongful loss to banks, be brought to book”. Therefore, his “custodial interrogation is imperative to take the investigation to a logical conclusion”, the CBI said.
