The Central Bureau of Investigation (CBI) has arrested two Senior Executives D Vishwanath and Anil Kalya of M/s Reliance Communications (R. Com) controlled
by Anil D Ambani. It may be recalled that CBI had registered a Regular Case against M/s. Reliance Communications Limited,Anil D Ambani and unknown others on the complaint of State Bank of India (SBI), on the allegations that the bank had sanctioned credit facilities to the accused company but due to the fraudulent activities of the accused borrowers, Bank had to suffer wrongful loss of around Rs. 2929.05 Crores. As per the complaint filed by SBI, a wrongful loss of Rs.19,694.33 crores has been caused to 17 public sector banks / FIs.Investigation thus far has revealed that R. Com Ltd entered into circuitous transactions through shell entities controlled by company’s officials and also got discounted LCs opened for bogus service-related transactions with its group entities, which got devolved causing huge loss to the banks. D. Vishwanath, Joint President of M/s R. Com was overall in-charge of banking operations of the group and on his directions the mis-utilization of funds were carried out. He was in coordination with banks for sanction and disbursal of the facilities to the accused company. Anil Kalya, Vice President had actively supported D. Vishwanth and these two were important functionaries of the R. Com Group managing corporate finance, banking operations, payments / utilization of funds etc. They will be produced before the jurisdictional court. The investigation is ongoing.
