India’s Central Bureau of Investigation (CBI) has arrested 2 senior executives of Reliance Communications in connection with an alleged bank fraud case, marking a significant development in the ongoing investigation into financial irregularities.
The individuals have been identified as Joint President D. Vishwanath and Vice President Anil Kalya. According to the agency, both were closely involved in overseeing corporate finance, banking operations, and fund utilisation within the company.
The case centres around allegations of large-scale financial misconduct, including misuse of credit facilities, diversion of funds, and routing of transactions through shell entities. These actions are believed to have caused substantial losses to multiple banks and financial institutions.
Investigations suggest the fraud may involve amounts exceeding ₹2,929 crore, with a broader exposure impacting several public sector banks.
The arrests are part of a wider probe into the financial dealings of the Anil Ambani-led group. The CBI has registered multiple cases in recent months following complaints from lenders, including the State Bank of India.
Officials stated that the accused will be presented before a court, while further investigation continues to assess the full scale of the alleged fraud and identify additional parties involved.
The development highlights increasing scrutiny on corporate governance and financial practices, as enforcement agencies intensify action against banking-related fraud cases.
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