CBI Raids 17 Mumbai Locations Linked To Anil Ambani-Led Reliance Group

The Central Bureau of Investigation (CBI) said it has conducted searches at 17 premises in Mumbai in connection with three cases registered against Anil Ambani-led Reliance ADA Group companies, including Reliance Telecom Ltd, Reliance Commercial Finance Ltd, and Reliance Home Finance Ltd. The searches were conducted at the residential premises of Directors of the above-mentioned companies as well as at the office premises of intermediary companies whose accounts were used for diversion of bank funds.

The CBI stated that the searches were conducted on the strength of Search Warrants, dated May 8, issued by the Special Judge for CBI cases, Mumbai, and have resulted in the seizure of incriminating documents.

The investigation is part of seven cases registered by the CBI against the Anil Ambani-led Reliance Group based on complaints lodged by various Public Sector Banks and LIC in connection with alleged frauds involving thousands of crores of rupees, with a total quantum of alleged loss of Rs 27,337 crore.

The CBI had earlier conducted searches at 14 locations in the last few months, immediately after registration of these cases, and arrested two senior executives of RCom, who are presently in judicial custody. The investigation into the cases relating to the Anil Ambani-led Reliance Group is being monitored by the Supreme Court.

The CBI will continue its investigation into the cases, with the next steps expected to include further analysis of the seized documents and potential arrests or charges against other individuals involved.