Former RCom MD Jhunjhunwala in custody over ₹2,929cr loan fraud
Business
Former Reliance Communications (RCom) former Group Managing Director Jhunjhunwala is staying in custody until June 5, after a Mumbai court agreed with the CBI's request for more time to question him about a massive ₹2,929 crore loan fraud.
Jhunjhunwala was arrested on June 1 and is currently at Tihar Jail.
CBI probes Reliance-linked loan diversion
The CBI says Jhunjhunwala's interrogation is key to figuring out how loans were diverted and who else benefited.
The case started with an SBI complaint last year, claiming lenders lost thousands of crores because of misuse under Jhunjhunwala's direction.
This investigation is part of several ongoing probes into Reliance group companies.