CBI raids 17 locations in Mumbai in alleged Rs 27,337 crore fraud cases linked to Anil Ambani-led Reliance Group

The Central Bureau of Investigation (CBI) has intensified its probe into the Anil Ambani-led Reliance ADA Group, carrying out fresh searches at 17 locations across Mumbai in connection with alleged bank fraud cases involving over Rs 27,000 crore. The agency said the raids targeted premises linked to Reliance Group companies and intermediary firms suspected of diverting public money through complex financial transactions.

In a statement issued on Saturday, the CBI said searches were conducted in connection with three cases registered against Reliance Telecom Ltd, Reliance Commercial Finance Ltd, Reliance Home Finance Ltd, and their directors. The action was carried out at residential premises of company directors as well as offices of intermediary entities allegedly used to route and divert bank funds.

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According to the agency, the searches were conducted on the basis of warrants issued on May 8 by a Special CBI Court in Mumbai. Investigators have reportedly seized several incriminating documents during the operation.

The probe agency further claimed that multiple intermediary firms under scrutiny were found operating from the same address, raising suspicion over the financial network allegedly used in the transactions. Officials said the investigation is continuing and more evidence is being examined.

The latest raids come amid a wider crackdown on the Anil Ambani-led Reliance Group. Over the past few months, the CBI has registered seven cases based on complaints filed by various public sector banks and the Life Insurance Corporation of India (LIC). The complaints relate to alleged financial irregularities and fraud involving loans amounting to Rs 27,337 crore.

Earlier, the agency had conducted searches at 14 locations soon after registering the cases.

In a major development last month, the CBI arrested two senior Reliance Communications executives, D. Vishwanath, Joint President and overall in-charge of the group’s banking operations, and Anil Kalya, Vice President. The agency alleged that both officials played a key role in managing banking operations and utilisation of funds linked to the accused companies.

The CBI said both accused are currently in judicial custody. The agency also confirmed that the ongoing investigation into the Reliance Group cases is being monitored by the Supreme Court.