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CBI Arrests Two RCOM Senior Officials in Bank 'Fraud' Case
- On Monday, the Central Bureau of Investigation arrested two senior executives of Anil Ambani-controlled Reliance Communications, D. Vishwanath and Anil Kalya, in connection with an alleged bank fraud case.
- The State Bank of India filed a complaint alleging the company caused a wrongful loss of Rs 19,694 crore to 17 public sector banks and financial institutions.
- Investigators allege the firm engaged in deceptive transactions through shell entities and discounted letters of credit for bogus services, causing significant financial damage to lenders.
- Directing the firm's banking operations, Vishwanath oversaw fund misuse; the CBI is registering separate cases for losses incurred by each affected bank.
- While Reliance Communications has remained in the Corporate Insolvency Resolution Process since 2019, the probe continues despite Ambani resigning his non-executive director role that same year.
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Top Executives Arrested in Alleged Reliance Communications Fraud
The CBI has arrested two senior executives from Reliance Communications, Anil Kalya and D Vishwanath, over an alleged bank fraud involving over Rs 2,929 crore. The fraud, associated with 'circuitous' transactions and 'shell' entities, has affected multiple banks and is under continued investigation.
·India
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Coverage Details
Total News Sources15
Leaning Left3Leaning Right5Center2Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 30%
C 20%
R 50%
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