New Delhi, April 20: The Central Bureau of Investigation (CBI) has arrested two senior officials associated with Reliance Communications Limited, a company controlled by Anil D. Ambani. The arrested individuals are identified as D. Vishwanath and Anil Kalia. This action is part of an investigation into a bank fraud case.
According to the CBI, the case was registered based on a complaint from the State Bank of India (SBI). The complaint alleged that Reliance Communications Limited and its affiliates received substantial loan facilities from the bank, which were misused. It is claimed that this alleged fraud resulted in a loss of approximately ₹2,929.05 crores to the bank. Furthermore, a total loss of about ₹19,694.33 crores has been reported across 17 public sector banks and financial institutions.
The investigative agency states that the preliminary inquiry revealed that certain officials within the company colluded to manipulate financial transactions. Allegations suggest that money was funneled through several ‘shell companies,’ which exist only on paper. Additionally, fraudulent service-related transactions with other group entities have also come to light. These transactions utilized ‘discounted letters of credit’ (LC), which later devolved for payment by the bank, imposing an additional financial burden on the banks.
The CBI notes that D. Vishwanath was responsible for the overall management of the company’s banking and financial operations. He is accused of coordinating with banks regarding the approval and utilization of loan facilities. Anil Kalia is alleged to have assisted Vishwanath in this process and played a role in the company’s financial operations, payments, and fund utilization.
Both accused will be presented before the relevant court. The investigation is ongoing, and the agency is exploring other aspects of the case. The CBI also mentioned that several FIRs have been filed in recent months against matters related to the Anil Ambani group based on complaints from banks and LIC, which reportedly involve large-scale financial irregularities.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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