CBI arrests two RCOM senior officials in bank ‘fraud’ case
The CBI on Monday said it had arrested two senior executives of Anil Ambani group company Reliance Communications (RCOM) – Anil Kalya and D Vishwanath – for alleged bank fraud. In a statement issued on Monday, the CBI said the two executives were involved in the Reliance Communications group’s corporate finance, banking operations, disbursements/usage of funds etc. He claimed that he had important officials who ruled.
The CBI said it had arrested these people in a case filed by the State Bank of India on allegations that the bank had provided loan facilities to the company, but the lender suffered an unfair loss of around 100,000 euros due to the “fraudulent” activities of the accused borrowers. ₹2,929.05 crore.
In a statement, a company spokesperson said Vishwanath and Kalya served as Chief Financial Officer (CFO) and Vice President (Accounts and Finance), respectively, at Reliance Communications after the company was admitted to the Corporate Insolvency Resolution Process (CIRP) in 2019.
“RCOM operates under the supervision of Resolution Specialist Anish Nanavaty, appointed by the Committee of Creditors led by State Bank of India (SBI), with Deloitte acting as advisor,” he said.
The statement stated that Reliance Communications is no longer part of the Reliance Group, the company has been subject to CIRP under the Insolvency and Bankruptcy Code (IBC) since 2019 and has remained in the resolution process for nearly seven years and the cases are still pending in 2026.
“Anil D Ambani served as a non-executive director on the board of RCOM and stepped down from that post nearly seven years ago, in 2019. He was not involved in the day-to-day operations of the company,” the statement said.
Unjust loss according to CBI ₹19,694 crore losses were inflicted on 17 public sector banks and financial institutions. CBI is in the process of registering separate cases regarding losses of each bank.
The investigation found that RCOM engaged in “circular” transactions through “front” entities controlled by company officials.
The agency said RCOM received discounted Letters of Credit (LCs) opened for “sham” service-related transactions with group entities, which were transferred and resulted in huge losses for banks.
The CBI alleged that Vishwanath had overall charge of the group’s banking operations and oversaw the “misuse” of funds.
It was stated that the facilities worked in coordination with the banks for the payment and sanction of the defendant company.
Kalya “actively” supported Vishwanath, the investigating agency said, adding that both were “important” RCOM officers who managed corporate finance, banking operations, payments and utilization of funds.
In the last few months, the agency has so far registered seven cases against Anil Ambani-led Reliance Group based on complaints filed by various public sector banks and LIC alleging fraud worth a total of thousands of trillions of rupees.
