CBI searches at 17 sites in cases linked to ADAG | India News
New Delhi: The Central Bureau of Investigation (CBI) on Saturday conducted searches at 17 locations in Mumbai in connection with three cases registered against Reliance ADA Group Companies, Reliance Telecom Ltd, Reliance Commercial Finance Ltd and Reliance Home Finance Ltd and their directors.According to the CBI, searches were conducted at the residential premises of the directors of the companies used to divert the bank funds and at the offices of the intermediary companies. The search was conducted on May 8 based on a warrant issued by a special CBI court in Mumbai.The CBI said incriminating documents were seized during the search. Investigators also found that multiple intermediary firms were allegedly operating from the same address.The agency said it has registered seven cases against the Anil Ambani-led Reliance Group in recent months based on complaints filed by various public sector banks and LIC for alleged fraud involving thousands of crores of rupees. According to the CBI, the total alleged loss in this case is Rs 27,337 crore.CBI had earlier conducted searches at 14 places after registering the case. Two senior Reliance Communications executives D Viswanath, joint president and Anil Kalia, vice president, were arrested on April 20 for investigation. Both are currently in judicial custody. The CBI said the investigation of the cases is under the supervision of the Supreme Court.
