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

The Central Bureau of Investigation (CBI) on Saturday carried out searches at 17 locations across Mumbai in connection with three separate cases involving Reliance Anil Dhirubhai Ambani Group companies. According to a PTI report quoting CBI officials, the action relates to Reliance Telecom, Reliance Commercial Finance and Reliance Home Finance, along with their directors. Investigators reportedly visited multiple premises as part of the ongoing probe into alleged financial irregularities and diversion of bank funds. The searches were conducted after the agency intensified its investigation into complaints filed by public sector banks and the Life Insurance Corporation of India (LIC) concerning alleged fraud amounting to several thousand crores of rupees.

“These searches are being 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,” a spokesperson for the Central Bureau of Investigation said in a statement. According to the report, the central agency obtained a search warrant from a special court in Mumbai on Friday before launching the operation. Officials stated that investigators seized several incriminating documents during the searches. “Searches have also revealed that multiple intermediary companies were operating from the same address. The investigation is continuing,” the CBI official said in a statement said.

The Central Bureau of Investigation has already registered seven cases against companies belonging to the Anil Ambani-led Reliance Group based on complaints filed by different public sector banks and LIC. These cases are linked to alleged financial fraud involving a total loss of Rs 27,337 crore. Over the past few months, the agency conducted searches at 14 different locations soon after the registration of the cases. On April 24, the CBI arrested two senior executives of Reliance Communications (RCom), identified as joint president D Vishwanath and vice-president Anil Kalya, for their alleged role in handling banking operations, payments and utilization of funds connected to the investigation.

“Both the accused persons 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,” CBI the statement said. Officials added that investigators are continuing to examine documents, banking records and transactions connected to the companies under scrutiny. The agency is also probing the role of intermediary firms allegedly used for diversion of funds. Authorities believe the findings from the latest searches could provide additional evidence regarding the movement and utilization of large sums linked to the alleged fraud. The case remains one of the biggest financial investigations involving private companies and public sector financial institutions in recent years.