The Central Bureau of Investigation (CBI) has arrested two senior executives of Reliance Communications (RCom)in connection with a Rs 2,929.05 crore bank fraud case. According to the information shared, the investigating agency has arrested D Vishwanath and Anil Kalya of M/s Reliance Communications controlled by Anil D Ambani. According to the agency, both played pivotal roles in managing corporate finance and banking operations for the beleaguered telecom firm.
The investigating agency said that D Vishwanath, joint president of R Com, was overall in charge of the group’s banking operations, and that, on his directions, the misutilisation of funds was carried out. He was in coordination with banks for the sanction and disbursal of the facilities to the accused company.
“Anil Kalya, Vice President had actively supported D. Vishwanth and these two were important functionaries of the R. Com Group managing corporate finance, banking operations, payments / utilization of funds etc,” the CBI said in a statement.
CBI had registered a case against Reliance Communications Limited, Anil D Ambani and unknown others on the complaint of State Bank of India (SBI), on the allegations that the bank had sanctioned credit facilities to the accused company, but due to the fraudulent activities of the accused borrowers, the state-owned bank had to suffer wrongful loss of around Rs 2929.05 crore.
Court sends ex-Reliance Group executives to 5 days’ ED custody
Earlier on Thursday, a Delhi court sent former senior executives of Reliance Anil Ambani Group (RAAG) Amitabh Jhunjhunwala and Amit Bapna to five days of ED custody in an alleged bank loan fraud-linked money laundering case. The 24-page order stated the ED found that loan funds were allegedly siphoned to shell companies that the group itself “controlled”.
The order added that the digital evidence recovered by the Enforcement Directorate during the probe — in the form of emails — “crystalises” the role of the two arrested accused in siphoning loan funds worth crores of rupees.
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