CBI Raids 17 Locations in Mumbai Over ₹27,000 Crore Reliance ADAG Bank Fraud
The Central Bureau of Investigation (CBI) has intensified its probe into the Anil Ambani-led Reliance ADAG Group, carrying out fresh searches at 17 locations across Mumbai. The investigation is linked to alleged bank fraud cases involving over ₹27,000 crore linked to Reliance Telecom, Reliance Commercial Finance, and Reliance Home Finance.
The agency said the searches targeted premises linked to the group companies and intermediary firms suspected of diverting public money through complex financial transactions. These searches were conducted at the residential premises of company directors as well as at the office premises of intermediary companies whose accounts were allegedly used for the diversion of funds obtained from banks and financial institutions.
Officials stated that the searches were conducted based on warrants issued on Friday by a special CBI court in Mumbai. During the operation, investigators allegedly recovered incriminating documents and financial records linked to the transactions under scrutiny. The central agency claimed that multiple intermediary firms under scrutiny were operating from the same address, raising suspicion over the financial network allegedly used for diversion and layering of funds.
The latest searches come amid a wider crackdown on the Anil Ambani-led Reliance Group. Over the past few months, the CBI has registered seven cases based on complaints filed by various public sector banks and the Life Insurance Corporation of India (LIC). The complaints relate to alleged financial irregularities and fraud involving loans amounting to ₹27,337 crore.
Earlier, the CBI had conducted searches at 14 locations shortly after registering the FIRs. Subsequently, the agency arrested two senior executives of Reliance Communications, D. Vishwanath and Anil Kalya, on April 20 in connection with the alleged diversion and utilisation of funds. Both are currently in judicial custody. Vishwanath handled the overall banking operations of the group, while Kalya allegedly assisted in fund utilisation, payment management, and coordination of financial transactions linked to the companies under investigation.
The investigation into the alleged bank fraud involving the Anil Ambani-led group is currently being monitored by the Supreme Court of India. During Friday’s hearing, the apex court observed that it was “extremely shy” of directing the arrest of any individual in the matter, while clarifying that it would not express any opinion on the correctness of arrest or non-arrest as the investigation by the CBI and the Enforcement Directorate (ED) remains underway. The Supreme Court, however, allowed the investigating agencies to continue their probe and sought status updates in the matter, which involves allegations of diversion of public money through layered corporate structures and intermediary entities.
Officials said the agencies are now examining the financial trail, utilisation of loan funds, role of shell entities, and internal approvals linked to the transactions under scrutiny. There was no immediate response from the Reliance ADAG Group or the companies named in the CBI FIRs regarding the latest CBI searches.
