Mumbai Court Directs CBI To Furnish Chargesheet To Ex-RCFL CEO Devang Mody In ₹7,623 Crore Fraud Case

A Special CBI Court in Mumbai on Friday directed the Central Bureau of Investigation (CBI) to furnish an electronic copy of the chargesheet to former Reliance Commercial Finance Ltd. (RCFL) Chief Executive Officer and Director Devang Pravin Mody.

Mody is accused in the alleged ₹7,623 crore bank fraud case involving Reliance ADA Group companies.

The case relates to alleged irregularities in loans extended by a consortium of 31 banks and financial institutions to Reliance Commercial Finance Ltd. (RCFL) and Reliance Home Finance Ltd. (RHFL).

Special Judge Nitin V. Jiwane said that since the CBI had already filed and registered the chargesheet as a Special Case, Mody being one of the accused was entitled to receive a copy to defend himself.

Holding that supplying the chargesheet would not prejudice the CBI and directed that it be furnished electronically in view of its voluminous nature, the Court said:

"Thus, the charge-sheet filed by the CBI is duly scrutinized and the same is registered. Therefore, the applicant being one of the accused in the said case is entitled for the copy of the charge-sheet filed by the CBI for taking necessary legal assistance to defend himself in the said case. Further, no prejudice is going to cause to the CBI, if the copy of the charge-sheet is supplied to the accused. Therefore, in the facts and circumstances of the present case, I am of the considered opinion that, the applicant is entitled for receiving the copy of charge-sheet filed against him by the CBI."

The case arises from an FIR registered by the CBI on December 6, 2025 based on a complaint by Bank of Maharashtra Deputy General Manager Aditya Prakash. The FIR names RCFL, Devang Mody, former director Ravindra Rao and others for offences under the IPC and the Prevention of Corruption Act.

The CBI alleges that Mody who served as RCFL's CEO and Director between April 2017 and December 2018 played a key role in the alleged conspiracy relating to loans extended by a consortium of 31 banks and financial institutions to RCFL and RHFL.

Mody who was produced before the Special CBI Court on June 23, 2026 and remanded to CBI before being sent to judicial custody, sought a copy of the chargesheet. He argued that Section 230 of the Bharatiya Nagarik Suraksha Sanhita, 2023 requires the investigating agency to furnish the police report and related documents within 14 days of an accused's production before the court. He submitted that the CBI had failed to do so despite filing the chargesheet.

Rejecting the CBI's objection, the court held that Section 230 of the BNSS mandates timely supply of the police report and accompanying documents to an accused. Since the chargesheet had already been filed and registered, Mody was entitled to receive a copy for his legal defence.

Accordingly, the Court directed the CBI to furnish the chargesheet to him through electronic means.

For Applicant: Abaad Ponda, Senior Advocate; Pranjit Bhattacharya, Avdhoot Prabhu, Dhuru Mishra, Advocates 

For CBI: Sr. PP J. K. Sharma