Mumbai, May 12, 2026 — The Central Bureau of Investigation (CBI) carried out simultaneous searches at 17 premises in Mumbai on May 9, 2026, targeting companies associated with the Anil Ambani-led Reliance Anil Dhirubhai Ambani (ADA) Group. The operation forms part of an ongoing investigation into alleged bank frauds amounting to approximately ₹27,337 crore.
The raids focused on entities including Reliance Telecom Ltd (RCOM), Reliance Commercial Finance Ltd, and Reliance Home Finance Ltd, along with their directors and several intermediary companies. Searches covered both residential premises of directors and office locations, many of which were linked through shared addresses.
According to the CBI, the action was conducted under search warrants issued on May 8, 2026, by a special CBI court in Mumbai. Investigators seized incriminating documents during the operations. Officials noted that multiple intermediary firms appeared to operate from the same addresses, raising suspicions of fund diversion through complex transactions involving public sector banks and the Life Insurance Corporation (LIC) of India.
Background of the Investigation
This latest development is part of a broader probe in which the CBI has registered multiple cases against the Reliance ADA Group based on complaints from various public sector banks and LIC. The allegations primarily revolve around the diversion and misutilization of loans, manipulation of books of accounts, and creation of fictitious transactions with related parties.
Reliance Telecom Ltd (RCOM), which is currently undergoing corporate insolvency resolution proceedings, confirmed that one of the searches took place at the residence of a non-executive director. The company stated that documents, including forensic audit reports, were seized but emphasized that the action would not impact its operations.
No arrests have been reported in connection with these specific raids so far, and the investigation remains active.
The CBI’s intensified scrutiny of the group highlights ongoing regulatory focus on large-scale corporate loan defaults and alleged financial irregularities in the aftermath of the telecom sector’s challenges. Further developments are expected as the agency continues to examine the seized materials and related financial trails.
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