Mumbai: The CBI on Saturday conducted search at multiple premises in connection with the 3 cases registered against Reliance led ADA Group companies. Searches were conducted at the residential premises of Directors of the above-mentioned companies as well as at office premises of intermediary companies whose accounts were used in the diversion of bank funds.
CBI stated that the searches dated on May 8th, were conducted based on search warrants issued by the Special Judge for CBI cases, Mumbai, and have resulted in the seizure of incriminating documents.
It must be noted that the CBI has registered seven cases against Anil Ambani owned Reliance Group based on complaints lodged by various Public Ranks and LIC for alleged frauds involving thousands of crores of rupees. As per reports, the total sum of loss in these cases is said to be Rs 27,337 crore.
Earlier the CBI had conducted searches at 14 locations immediately following the registration of these cases. Two senior executives of RCom and Joint President of RCom responsible for banking operations of the Group, Anil Kalya were arrested on April 20th. They are currently in judicial custody.