New Delhi, July 4 -- The Central Bureau of Investigation (CBI) has arrested Amit Bapna, former Chief Financial Officer of Reliance Capital Ltd., in connection with the ongoing investigation into the Reliance ADA Group cases, the probe agency said on Saturday.

CBI said its investigation has revealed that Amit Bapna, who served as Chief Financial Officer of Reliance Capital Ltd. from August 2014 to December 2019, was one of the key decision-makers responsible for managing the financial affairs of the company.

He allegedly facilitated and approved loans to intermediary and conduit companies despite being aware that such lending was contrary to RBI guidelines and the sanction conditions governing borrowings from Public Sector Banks, CBI sai...