CBI Arrests Two Senior RCOM Executives Over Rs 19,694 Crore Fraud Allegations
Joint president D Vishwanath and VP Anil Kalya detained; SBI reports Rs 2,929 crore wrongful loss in case stemming from 2019 insolvency proceedings
Hızlı Bakış
- CBI has arrested two senior executives of Reliance Communications — joint president D Vishwanath and vice president Anil Kalya — for alleged fund misutilisation that caused wrongful losses of Rs 2,929 crore to State Bank of India and Rs 19,694.3 crore to a consortium of 17 public sector banks.
- The case, registered based on an SBI complaint, relates to sanctioned credit facilities and involves allegations of circuitous transactions through shell entities.
- Reliance Group has distanced itself from RCOM, stating the company has been undergoing CIRP since 2019 under the IBC.
Yapay zekâ özeti
Neden Önemli?
Reliance Communications has been undergoing Corporate Insolvency Resolution Process (CIRP) since 2019 under the IBC. The company, which was part of the Reliance Group after the demerger from RIL, accumulated massive debt in the telecommunications sector before entering insolvency proceedings.
NEW DELHI: The CBI has arrested two senior executives of Reliance Communications (RCOM) as part of its deepening investigation into allegations of financial irregularities. Joint president D Vishwanath and vice president Anil Kalya were arrested following allegations of fund misutilisation that allegedly caused substantial losses to public sector lenders. CBI registered the case based on a formal complaint lodged by the State Bank of India (SBI). The allegations pertain to sanctioned credit facilities, with SBI reporting a direct wrongful loss of Rs 2,929 crore. The FIR alleges that a consortium of 17 public sector banks and financial institutions allegedly suffered a total wrongful loss of Rs 19,694.3 crore. The development saw Reliance Group, which ran Reliance Communications after the demerger of RIL, distancing itself and Anil Ambani from RCOM. "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," it said in a statement. "He was not involved in the day-to-day operations of the company," the statement said. The probe revealed that Reliance Communications engaged in circuitous transactions through a network of shell entities controlled by company officials.
Bundan Sonra Ne Olabilir?
Yapay zekâ öngörüsü — kesinlik taşımaz
More individuals may be arrested in connection with the alleged fraud
Muhtemel · Haftalar içinde
CBI may seek court custody for the accused executives for further questioning
Çok muhtemel · Günler içinde
Açık Sorular
- What specific transactions were flagged as fraudulent?
- What is the timeline for the resolution process completion?
- Will there be more arrests related to this case?
