The Central Bureau of Investigation on Saturday carried out searches at 17 locations in Mumbai in connection with three cases registered against Reliance ADA Group companies, including Reliance Telecom Limited, Reliance Commercial Finance Limited and Reliance Home Finance Limited, as well as their directors, in a probe linked to alleged diversion of bank funds.
Searches Target Directors and Intermediary Firms
The searches were conducted at the residential premises of company directors and at the offices of intermediary firms that were allegedly used for diversion of bank funds. The action was taken on the basis of warrants issued on May 8 by a special CBI court in Mumbai.
The agency said incriminating documents were seized during the searches. Investigators also found that multiple intermediary companies were allegedly operating from the same address, a detail that may form part of the broader probe into how the alleged transactions were structured.
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Seven Cases Registered in Recent Months
The CBI has registered seven cases in recent months against the Anil Ambani led Reliance Group based on complaints filed by various public sector banks and LIC. These cases relate to alleged frauds involving thousands of crores of rupees.
According to the agency, the total alleged loss in the cases amounts to Rs 27,337 crore. The latest searches were linked to three of those cases, which concern Reliance Telecom Limited, Reliance Commercial Finance Limited and Reliance Home Finance Limited and their directors.
Earlier Arrests and Court Monitoring
The CBI had earlier carried out searches at 14 locations after registering the cases. Two senior executives of Reliance Communications, joint president D Vishwanath and vice president Anil Kalya, were arrested on April 20 in connection with the investigation and are presently in judicial custody.
The agency said the investigation into the cases is being monitored by the Supreme Court.
About the author – Ayesha Aayat is a law student and contributor covering cybercrime, online frauds, and digital safety concerns. Her writing aims to raise awareness about evolving cyber threats and legal responses.
