The Central Bureau of Investigation (CBI) is investigating Reliance Communications, an Anil Dhirubhai Ambani Group company, following raids related to a significant fraud case.
Key Points
- CBI searches premises linked to Reliance Communications in connection with a fraud case.
- Searches conducted at the residences of former CEO, CFO, and directors from 2015-2017.
- The alleged fraud involves public sector banks and LIC, with losses amounting to Rs 27,337 crore.
- Incriminating documents seized during the searches, and further investigation is ongoing.
The Central Bureau of Investigation conducted searches at seven premises on Thursday in connection with a fraud case against Reliance Communications Ltd, an Anil Dhirubhai Ambani Group company, officials said.
CBI Raids Target Former Executives
The searches took place in Mumbai, Gurugram and Bengaluru at the residential premises of the then CEO, CFO and directors of the company who served during the 2015-2017 period, a CBI spokesperson said in a statement.
"The searches were conducted on the strength of search warrants dated 14.05.2026 issued by the special judge for CBI cases, Mumbai. The searches resulted in seizure of incriminating documents and further investigation is continuing," the statement said.
Scale of the Alleged Fraud
The CBI has registered seven cases against the Anil Ambani-led Reliance Group on the complaints lodged by various public sector banks and LIC in connection with alleged frauds involving thousands of crores of rupees, the spokesperson said.
"The total quantum of alleged loss in these cases is Rs 27,337 crore," the statement said.
Previous Arrests in the Case
The CBI had earlier conducted searches at 31 locations and arrested two senior executives of Reliance Communications (RCOM), -- joint president D Vishwanath, who was overall in-charge of banking operations of the group, and vice president Anil Kalya, who had actively supported Vishwanath in managing banking operations and payments and utilisation of funds, the spokesperson said.
"Both the accused persons are presently in judicial custody," she said.
