New Delhi: The Central Bureau of Investigation (CBI) on Saturday conducted searches at 17 locations in Mumbai in connection with three cases against Reliance ADA Group of Companies, Reliance Telecom Limited, Reliance Commercial Finance Limited and Reliance Home Finance Limited and their directors.According to the CBI, searches were conducted at the residence of the company director and the office of the agency company suspected of misappropriating bank funds. The search was conducted on the basis of a search warrant issued by the CBI Special Court in Mumbai on May 8.The CBI said some incriminating documents were seized during the search. Investigators also discovered that multiple agency companies allegedly operated from the same address.The agency said seven cases have been registered against Anil Ambani-led Reliance Group in recent months based on complaints filed by multiple public sector banks and LIC over alleged fraud involving hundreds of billions of rupees. According to the CBI, the total alleged loss in these cases is Rs 27,337 crore.The CBI had earlier conducted searches at 14 locations after registering the case. Two senior executives of Reliance Communications, joint president D Vishwanath and vice president Anil Kalya, were arrested on April 20 in connection with the investigation. Both are currently in judicial custody. India’s Central Bureau of Investigation said the Supreme Court was overseeing the investigation into the case.
CBI searches 17 locations for ADAG-related cases
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