CBI action on Anil Ambani’s company RCom, two senior officers arrested, accused of bank fraud

Anil Ambani RCom CBI Action: The Central Bureau of Investigation (CBI) has taken major action against Reliance Communications Limited (RCom), a company owned by industrialist Anil Ambani. The investigating agency has arrested two senior officials of the company in a bank fraud case. These officers have been identified as D. Vishwanath and Anil Kalya. It is alleged that these officers have defrauded banks of thousands of crores of rupees by misusing banking facilities.

Investigation started on SBI complaint

This action of CBI has come after a formal complaint lodged by State Bank of India (SBI). SBI alleges that Reliance Communications was provided credit facilities for business operations but the company misused these funds. Initial investigation has revealed that SBI alone has suffered a direct financial loss of Rs 2,929.05 crore due to this fraud.

Fraud with 17 banks

This matter is not limited to just one bank. According to the SBI complaint, a consortium of 17 banks has suffered huge financial loss due to the fraud by Reliance Communications. The total loss of all these banks together has been estimated at Rs 19,694.33 crore. Investigation has found that company officials had transferred the amount taken in the name of business operations to a network of shell companies.

The illusion of fake transactions and shell companies

According to CBI investigation, many officials working in Reliance Communications had created different shell companies. Funds received from banks are referred to as ‘service’ By showing fake transactions related to these were sent to the accounts of these shell companies. Arrested was D. Vishwanath, who was working as Joint President in the company and was in direct contact with the banks. The agency says that on his instructions the loan amount was disbursed into the company’s accounts and then misused. Anil Kalya also played an important role in this entire process who was looking after corporate finance and payments.

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Anil Ambani was also interrogated

Considering the seriousness of this scam, CBI has registered a total of 7 cases against Reliance Communications in the last few months. These cases are based on complaints from public sector banks and LIC. The investigating agency has also personally interrogated Anil Ambani in this case. At present, preparations are being made to present both the arrested officers in the court. CBI Others are thoroughly investigating suspicious transactions and networks of shell companies.