Special Judge Nitin V Jiwane relied on the Delhi High Court’s September 22 order while granting Jhunjhunwala bail

Published on: Sep 30, 2026, 07:44:20 IST

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MUMBAI: Citing a recent Delhi High Court order that found his medical condition required sustained supervision, a special CBI court in Mumbai on Tuesday granted bail on medical grounds to former Reliance Capital vice-chairman Amitabh Jhunjhunwala, 70, in an alleged ₹4,097-crore bank fraud case involving Reliance Commercial Finance Ltd (RCFL).

Special Judge Nitin V Jiwane relied on the Delhi High Court’s September 22 order while granting Jhunjhunwala bail. The Delhi court, in a related money-laundering case, held that he qualified as a person who was “sick or infirm” under the medical exception to the stringent bail provisions of the Prevention of Money Laundering Act (PMLA).

Jhunjhunwala’s lawyers, senior advocate Aabad Ponda and advocates Mudit Jain, Rahul Agarwal, Jasmin Purani and Harsh Shah, told the Mumbai court that he suffered from spinal fractures, osteoporosis, sarcopenia and coronary artery disease. They said his condition had worsened while he was in custody.

The Delhi High Court had examined medical records from Tihar Jail and several government hospitals and noted spinal pathology, osteoporosis, the need for supervised rehabilitation and a pre-existing cardiac condition.

The CBI opposed the plea, arguing that the Delhi High Court order was in a PMLA case and that the medical findings should be independently assessed in the CBI case.

The agency has alleged that Jhunjhunwala had substantial control over the financial affairs of the Reliance Capital group and was involved in decisions relating to raising, routing and utilisation of funds. The CBI has alleged that funds raised by RCFL were diverted through linked entities to other group companies and used to service their debt obligations.

The case initially stemmed from a complaint by Bank of Maharashtra alleging a ₹57.47-crore loss. During the investigation, complaints from 12 other public sector banks were merged with the case, taking the alleged loss to around ₹4,097 crore.

RCFL had borrowed about ₹9,280 crore from 31 banks, financial institutions and other lenders before its account was classified as a non-performing asset in March 2020.

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