CBI arrests two Reliance Communications executives in Rs 19,694 crore fraud case
According to an official statement from the agency, banks sanctioned credit facilities to the company, which were later misused by the accused borrowers.
- Apr 20, 2026,
- Updated Apr 20, 2026 5:06 PM IST
The Central Bureau of Investigation (CBI) has arrested two senior executives of Reliance Communications Ltd in connection with a major bank fraud case involving alleged diversion of funds and fraudulent transactions.
The agency said it has taken into custody Vishwanath D and Anil Kalya of Reliance Communications (RCom), a company controlled by Anil D Ambani. The arrests follow a Regular Case registered against the company, Ambani, and others based on a complaint by the State Bank of India (SBI).
According to an official statement from the agency, banks sanctioned credit facilities to the company, which were later misused by the accused borrowers. This led to wrongful losses of Rs 292.05 crore to banks. The CBI further noted that a total wrongful loss of Rs 19,694.33 crore has been caused to 17 public sector banks.
Investigations so far indicate that Reliance Communications engaged in circuitous transactions through shell entities linked to company officials. The company also allegedly discounted letters of credit opened for bogus service-related transactions with its group entities, resulting in significant losses to banks.
Vishwanath, Joint President of RCom, was responsible for overseeing banking operations and is accused of playing a key role in the diversion of funds. He was also involved in coordinating with banks for sanctioning and disbursing loans.
Anil Kalya, Vice President, actively supported these operations. Both officials were part of the core team handling corporate finance, banking operations, payments, and fund utilisation within the RCom Group.
The arrested executives will be produced before the jurisdictional court. The investigation in the case is ongoing.
The Central Bureau of Investigation (CBI) has arrested two senior executives of Reliance Communications Ltd in connection with a major bank fraud case involving alleged diversion of funds and fraudulent transactions.
The agency said it has taken into custody Vishwanath D and Anil Kalya of Reliance Communications (RCom), a company controlled by Anil D Ambani. The arrests follow a Regular Case registered against the company, Ambani, and others based on a complaint by the State Bank of India (SBI).
According to an official statement from the agency, banks sanctioned credit facilities to the company, which were later misused by the accused borrowers. This led to wrongful losses of Rs 292.05 crore to banks. The CBI further noted that a total wrongful loss of Rs 19,694.33 crore has been caused to 17 public sector banks.
Investigations so far indicate that Reliance Communications engaged in circuitous transactions through shell entities linked to company officials. The company also allegedly discounted letters of credit opened for bogus service-related transactions with its group entities, resulting in significant losses to banks.
Vishwanath, Joint President of RCom, was responsible for overseeing banking operations and is accused of playing a key role in the diversion of funds. He was also involved in coordinating with banks for sanctioning and disbursing loans.
Anil Kalya, Vice President, actively supported these operations. Both officials were part of the core team handling corporate finance, banking operations, payments, and fund utilisation within the RCom Group.
The arrested executives will be produced before the jurisdictional court. The investigation in the case is ongoing.