Reliance ADA Group Hit by CBI Searches in ₹27K Cr Scam Case

In a bold escalation of its crackdown on corporate fraud, the CBI conducted searches at seven premises connected to the Reliance ADA Group on Thursday. Spanning Mumbai, Gurugram, and Bengaluru, the operation is part of an ongoing probe into Reliance Communications' murky financial dealings. Triggered by a special court's search warrant, CBI teams descended on homes of former top brass—including the erstwhile CEO, CFO, and directors—who served from 2015 to 2017. Incriminating papers were seized, bolstering the agency's evidence trove. The backdrop involves grievances from major public banks and LIC, leading to seven FIRs against the group in recent times. Allegations point to massive irregularities, with losses pegged at around ₹27,337 crore—a figure that underscores the scale of the purported scam. Building on prior raids at 31 locations and arrests of executives D. Vishwanath and Anil Kalya last month, this phase intensifies focus on banking transactions and fund mismanagement. Both accused are under judicial remand. Under Supreme Court supervision, the investigation dissects every financial thread, from loan disbursals to decision-making lapses. Stakeholders watch closely as this saga unfolds, potentially exposing systemic vulnerabilities in India's banking sector. With digital footprints and ledgers under microscope, the CBI's persistence signals no leniency for white-collar transgressions, promising accountability amid economic turbulence.