CBI on action mode! Big increase in Anil Ambani’s problem, raids at 15 places including Delhi-Mumbai in connection with 27000 crore scam

• CBI on action mode!
• Big increase in Anil Ambani’s troubles
• Raid at 15 locations including Delhi-Mumbai

CBI On Action Mode : Under the leadership of Anil Ambani, the action against the Reliance ADA group has now been intensified. The CBI on Saturday conducted raids at 15 locations in Mumbai and Delhi to further investigate the scam. This major action has been taken in cases related to Reliance Commercial Finance Limited and Reliance Home Finance Limited.

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According to the CBI, during these raids, 23 interrelated entities belonging to the Reliance ADA Group were interrogated. It is alleged that these entities were used to divert bank loans taken by RCFL and RHFL to other group companies, causing huge financial loss to the lending banks.

The residences of former officers were also raided

The investigating agency also searched the residences of the former Chief Financial Officer (CFO) of Reliance Home Finance Limited, the former Secretarial Head of Reliance ADA Group and the former Chief Treasury Consultant of RHFL.
The CBI has said that this action was taken on the basis of the search warrant issued by the judge of the special CBI court in Mumbai. A number of important and incriminating documents were seized during the search. Further investigation of the matter is underway.

Probe into alleged scam of Rs 27,337 crore

The CBI had earlier registered seven FIRs against Reliance Communications Ltd RCom, Reliance Home Finance Ltd RHFL, Reliance Commercial Finance Ltd RCFL and Reliance Telecom Ltd RTL based on complaints received from various public sector banks and Life Insurance Corporation of India LIC. These seven cases are alleged to have caused a loss of approximately Rs 27,337 crore to public sector banks and LIC.

Raids at 38 places

CBI has already conducted search operations at 38 locations in cases related to Reliance ADA Group. The agency has filed four chargesheets and arrested seven accused. All the accused are currently in judicial custody.

The investigation is under the supervision of the Supreme Court

The CBI has said that the investigation into these cases is under the supervision of the Supreme Court. The agency said it is committed to a fair, comprehensive and expeditious investigation. Currently, the documents seized during the raid are being examined. It remains to be seen what happens next in this case.

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