TWO former CEOs of Reliance ADAG COMPANIES ARRESTED BY CBI
New Delhi, June 23 -- The Central Bureau of Investigation (CBI) has arrested two former CEOs of two Reliance ADAG companies in connection with ongoing corruption cases, the agency said on Monday.
The arrested executives have been identified as Devang Mody, former director and CEO of Reliance Commercial Finance Limited (RCFL), and Ravindra Sudhalkar, former executive director and CEO of Reliance Home Finance Limited (RHFL).
The agency said in a statement that in the RCFL case, a loss of Rs.4,097 crore has been caused to 13 public sector banks while in RHFL case, Rs.3,526 crore loss has been caused to 10 public sector banks (PSBs).
"Investigation has revealed that Devang Mody, who served as CEO of RCFL from April 2017 to December 2018, was a ...
To read the full article or to get the complete feed from this publication, please
Contact Us.