The CBI on Monday arrested two senior executives of Anil Ambani’s Reliance Communications in the alleged ₹2,929-crore bank-fraud case, the agency said on Monday.
The arrested accused are D. Vishwanath and Anil Kalya.
The federal probe agency had registered a case against Reliance Communications, Ambani and unknown others based on a complaint by the State Bank of India. The bank alleged that it had sanctioned credit facilities for the company but because of the “fraudulent activities” of the accused borrowers, it had to suffer wrongful loss of ₹2,929.05 crore.
“As per the complaint filed by SBI, a wrongful loss of ₹19,694.33 crore has been caused to 17 public sector banks/FIs. Investigation thus far has revealed that R.Com Ltd entered into circuitous transactions through shell entities controlled by company’s officials and also got discounted LCs opened for bogus service-related transactions with its group entities, which got devolved, causing huge loss to the banks,” the CBI said.
The Reliance Group said Ambani was not involved in the day-to-day operations of the company.
