The Central Bureau of Investigation (CBI) has arrested Amit Bapna, the former Chief Financial Officer of Reliance Capital Ltd., in connection with an ongoing probe into the Reliance ADA Group.
Bapna was taken into custody while already in judicial detention in a separate case being investigated by the Enforcement Directorate in Delhi.
He has been lodged in Tihar Central Jail, New Delhi.
The arrest marks a significant escalation in the regulatory scrutiny of the Reliance ADA Group, which has faced prolonged investigations into alleged financial irregularities and bank fraud.
The CBI's move signals a deepening of the probe into the group's past financial management and corporate governance practices.
Reliance Capital, once a major player in India's non-banking financial sector, has been under intense regulatory pressure for years.