CBI searched 17 places in cases related to ADAG. india news
New Delhi: The Central Bureau of Investigation (CBI) on Saturday conducted searches at 17 locations in Mumbai in connection with three cases registered against Reliance ADA group companies, Reliance Telecom Ltd, Reliance Commercial Finance Ltd and Reliance Home Finance Ltd and their directors.According to the CBI, searches were conducted at the residential premises of directors of companies and offices of intermediary firms allegedly used for misappropriation of bank funds. The search was conducted on the basis of a warrant issued by a special CBI court in Mumbai on May 8.CBI said that incriminating documents were seized during the search. The investigators also found that several intermediary companies were allegedly operating from the same address.The agency said it has registered seven cases against Anil Ambani-led Reliance Group in recent months based on complaints filed by various public sector banks and LIC in connection with alleged fraud worth thousands of crores of rupees. According to CBI, the total alleged loss in these cases is Rs 27,337 crore.CBI had earlier conducted searches at 14 places after registering the case. On April 20, two senior executives of Reliance Communications, joint chairman D Vishwanath and vice chairman Anil Kalya, were arrested in connection with the investigation. Both are currently in judicial custody. The CBI said that the investigation in the cases is being monitored by the Supreme Court.
