The Central Bureau of Investigation (CBI) has filed a charge sheet in a ₹3,750-crore cheating case against Reliance Communications Ltd. (RCom), former executives of the group, and a former Chief Investment Officer of the Life Insurance Corporation of India (LIC) for causing wrongful loss to LIC.
Background of the Case
According to officials, the investigation revealed that in 2012, LIC subscribed to Non-Convertible Debentures (NCDs) worth ₹1,500 crore issued by RCom based on serious misrepresentations. This information was disclosed by the CBI in a statement on October 3, 2026.
Details of the Charge Sheet
In the charge sheet filed before a Special CBI court in Mumbai, the agency named several individuals as accused:
- Reliance Communications Ltd.
- Amitabh Jhunjhunwala, Group Managing Director
- Vishwas Joshi, Senior Vice President, Reliance Capital Limited
- P. Venugopal, the then Chief Investment Officer, LIC
