Top News

The Central Bureau of Investigation (CBI) has escalated its scrutiny of companies under the Reliance ADA Group, led by Anil Ambani. On Saturday, the agency conducted simultaneous raids at 17 locations in Mumbai. This operation is part of an investigation into alleged bank fraud and fund diversion.

Three Companies Under Investigation

The CBI's actions are focused on three entities within the Reliance Group: Reliance Telecom Limited, Reliance Commercial Finance Limited, and Reliance Home Finance Limited. The agency suspects that funds borrowed from banks were misappropriated and redirected elsewhere.

Raids at Directors' Homes and Offices

According to the CBI, the raids targeted the residences of the companies' directors and the offices of intermediary firms that allegedly facilitated the fund diversion. During these operations, the agency uncovered several critical documents and financial records.

Multiple Companies Operating from the Same Address

The investigation revealed that several intermediary companies were operating from the same address, raising suspicions about a network of shell companies and questionable transactions.

Allegations of Fraud Worth Thousands of Crores

The CBI has reported that based on complaints from public sector banks and the Life Insurance Corporation of India (LIC), seven cases have been registered against the Anil Ambani Group. The estimated financial loss in these cases is around ₹27,337 crores.

Previous Actions Taken

Previously, the CBI had conducted searches at 14 locations related to these cases. During the investigation, two senior officials from Reliance Communications, D. Vishwanath and Anil Kaliya, were arrested on April 20, 2026. The agency alleges that both played significant roles in managing banking operations and fund utilization. Currently, both are in judicial custody.