Overview
- CBI teams, acting on Friday warrants from a special CBI court, searched 17 Mumbai premises on Saturday tied to Reliance Telecom, Reliance Commercial Finance and Reliance Home Finance, seizing records and flagging multiple intermediary firms at the same address.
- At a Supreme Court hearing on Friday, the bench refused to direct Anil Ambani’s arrest and said custodial calls rest with the agencies, while keeping the investigation under watch and listing the case for July.
- The CBI told the Court it has nine FIRs in all, with seven still under investigation and two charge-sheeted, and it estimates losses of Rs 27,337 crore; officials also cited 31 lookout circulars and about 3,960 documents gathered.
- Enforcement steps so far include the April arrests of two Reliance Communications executives who remain in judicial custody, while the ED has separately alleged Rs 7,500 crore in defaults at Reliance Home Finance, Rs 8,200 crore at Reliance Commercial Finance and forged guarantees by Reliance Power causing losses over Rs 105 crore.
- The petitioner calls Ambani the scheme’s kingpin and questions his non-arrest, whereas Ambani’s lawyers cite cooperation and warn that sweeping measures and attachments risk undue damage to listed group firms and their shareholders.