A special CBI court in Mumbai on Wednesday remanded Amitabh Jhunjhunwala, former Managing Director of the Anil Ambani-led Reliance Group, to CBI custody till June 5 in connection with an alleged bank loan fraud case involving nearly ₹2,000 crore.

Special Judge JP Darekar passed the order after the CBI sought custody for further interrogation. The agency alleges that loan funds sanctioned by a consortium of banks to entities linked to the Reliance-ADAG Group were diverted through shell companies on Jhunjhunwala's instructions, causing wrongful losses to lenders.

Although Jhunjhunwala has not yet been named as an accused in the charge sheet, the CBI informed the court that its investigation against him is continuing.

Jhunjhunwala is already in judicial custody in a related money laundering case being investigated by the Enforcement Directorate (ED). A special ED court in Delhi had earlier permitted the CBI to secure his production from Tihar Jail for arrest and questioning in the predicate offence.

On June 1, a Mumbai court allowed the CBI to formally arrest him after he was brought to the city on a transit production warrant.

The case is part of a broader probe into alleged financial irregularities involving companies linked to industrialist Anil Ambani, which are also under investigation under the Prevention of Money Laundering Act.

Advocate Mudit Jain appeared for Jhunjhunwala, while Public Prosecutor Jitendar Sharma represented the CBI.