The Central Bureau of Investigation (CBI) has arrested Amitabh Jhunjhunwala, the former Group Managing Director of Reliance Communications, as part of an ongoing investigation into a substantial bank fraud case. Jhunjhunwala is accused of facilitating the misutilization of loan funds, resulting in significant financial losses for banks, particularly the State Bank of India, which reported a loss of ₹2,929.05 crore. Overall, the consortium of 11 banks is said to have suffered losses amounting to ₹6,015 crore due to unpaid loans. The total exposure of Reliance Communications to public sector banks is reported to be around ₹19,694.33 crore. This case is one of several investigations into Reliance Communications, with the CBI having registered multiple FIRs against the company and its affiliates. The Supreme Court is overseeing the investigation. Jhunjhunwala, who has been in judicial custody due to another case, was brought to Mumbai for the CBI's formal arrest and has since been remanded to Arthur Road Jail. His petition for police custody will be addressed in court on Tuesday.