CBI Arrests Two Executives of Reliance Communications in Rs.2,929 Crore Loan Fraud Case
The Central Bureau of Investigation (CBI) has arrested two senior executives of Reliance Communications (RCom), a company controlled by Anil Dhirubhai Ambani, in connection with an ongoing Rs2,929 crore loan fraud case linked to State Bank of India (SBI).
The arrested individuals have been identified as Senior Executives D. Vishwanath and Anil Kalya. The action comes as part of a broader investigation initiated following a complaint filed by SBI on August 18, 2025. SBI is the lead bank in a consortium that extended loans to the company, which also includes Bank of India, Union Bank of India, Canara Bank, and IDBI Bank, among others.
According to the CBI, the case is based on findings from a forensic audit report, which alleges large-scale diversion and misuse of loan funds between 2013 and 2017. Investigators claim that the borrowed funds were routed through various group entities instead of being used for their intended purposes.
The audit report indicates that SBI alone suffered a loss of Rs.2,929.05 crore due to these irregularities, while the total exposure of 17 public sector banks in the case stands at a massive Rs19,694.33 crore.
Reliance Communications, once a major player in India’s telecom sector, has been struggling with mounting debt and financial losses for several years. Banks have alleged that instead of repaying loans, the company engaged in financial mismanagement and fund diversion, ultimately leading to its financial collapse.
The CBI has registered an FIR against the company, Anil Dhirubhai Ambani, and other unknown individuals. The investigation is ongoing, and further action is expected as the agency continues to probe the alleged financial irregularities.
