The Central Bureau of Investigation (CBI) is probing an alleged fraud involving Reliance Commercial Finance Limited. As part of the investigation, the agency questioned Sanjay Dangi, an advisor at Authum Investment and Infrastructure Limited. According to the CBI, the firm has taken over assets of Reliance Commercial Finance Limited and Reliance Home Finance Limited, both of which are under investigation. Sanjay Dangi appeared before the agency and was examined yesterday.

 

The case was filed on 6th of December last year based on a complaint by the Bank of Maharashtra. The complaint accused the company and its officials, including Devang Pravin Mody and Ravindra Somayajula Rao, of cheating the bank of more than 57 crore rupees. According to the CBI, the total loss to banks and financial institutions in these cases is estimated at 9 thousand 2 hundred 80 crore rupees, including 4 thousand 97 crore rupees related to public sector banks.