New Delhi [India], April 20 (ANI): The Central Bureau of Investigation (CBI) has arrested two senior executives, D Vishwanath and Anil Kalya of Reliance Communications (R. Com) controlled by Anil D Ambani.
According to an official release, it may be recalled that CBI had registered a Regular 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 bank had to suffer wrongful loss of around Rs 2929.05 crores.
As per the complaint filed by SBI, a wrongful loss of Rs 19,694.33 crores has been caused to 17 public sector banks / FIs.Investigation thus far has revealed that R. Com Ltd entered into circuitous transactions through shell entities controlled by the company’s officials and also got discounted LCs opened for bogus service-related transactions with its group entities, which got devolved, causing huge loss to the banks.
D Vishwanath, Joint President of R Com, was overall in charge of banking operations of the group, and on his directions, the mis-utilisation 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/utilisation of funds, etc.
They will be produced before the jurisdictional court, the release noted.
The investigation is ongoing.
Reacting to this, a Spokesperson for Reliance Group clarified, “D. Vishwanath and Mr. Anil Kalya served as Chief Financial Officer (CFO) and Vice President (Accounts and Finance), respectively, at Reliance Communications (RCOM) after the company was admitted into the Corporate Insolvency Resolution Process (CIRP) in 2019.”
The spokesperson said that RCOM operates under the supervision of Resolution Professional Anish Nanavaty, who was appointed by the Committee of Creditors led by the State Bank of India (SBI), with Deloitte acting as advisor.
“Reliance Communications is no longer part of the Reliance Group as the company has been undergoing CIRP since 2019 under the Insolvency and Bankruptcy Code (IBC), 2016, and has remained in the resolution process for nearly seven years, with proceedings still pending in 2026. Anil D. Ambani served as a non-executive director on the board of RCOM and stepped down from this position in 2019, nearly seven years ago. He was not involved in the day-to-day operations of the company,” the spokesperson clarified. (ANI)