MUMBAI, Sept. 4 -- A special CBI court last week granted bail to former director and chief executive officer (CEO) of Reliance Commercial Finance Ltd (RCFL) Devang Mody in a Rs.4,097-crore bank fraud case, after noting that the allegations regarding his role were "generic in nature", the investigation was complete and the charge-sheet had been filed. Special judge Nitin V Jiwane also noted in the order dated August 29 that several persons allegedly involved in approving the loans had not been arrested and that Mody's further custodial interrogation was not required. Mody, who served as RCFL's director and CEO from April 2017 till December 2018, was arrested by the CBI on June 22 this year. The CBI case originated from a complaint by Bank of Maharashtra and other lenders who alleged that RCFL had caused losses worth Rs.57.47 crore. The CBI subsequently alleged that funds borrowed by RCFL were routed through intermediary and conduit entities to various Reliance Anil Dhirubhai Ambani (ADA) Group companies in violation of loan conditions, causing losses worth Rs.4,097 crore to 13 public-sector banks. While considering Mody's bail plea, the court found no concrete prima facie material showing that he had participated in availing the loans or induced anyone to obtain them. It also noted that the evidence against him was predominantly documentary and had already been seized, reducing the scope for tampering. The court also noted a change in the charges invoked against Mody between the remand stage and the charge-sheet. Though the CBI had invoked a serious breach-of-trust charge while seeking Mody's custody, the same was not included in the charge-sheet, which accused him of cheating and criminal conspiracy....