CBI Arrests Reliance Executives in Bank Fraud Case Involving ₹19,694 Crore
The Central Bureau of Investigation (CBI) has arrested two senior executives of Reliance Communications, D Vishwanath and Anil Kalya, in a bank fraud case linked to multiple public sector banks. The case stems from a complaint by the State Bank of India (SBI), alleging a wrongful loss of approximately ₹2,929.05 crore to the bank. Cumulative losses across 17 public sector banks and financial institutions are estimated at ₹19,694.33 crore. Investigators claim that Reliance Communications engaged in complex transactions through shell entities and used discounted letters of credit for dubious service-related transactions. Vishwanath, as Joint President, oversaw banking operations, while Kalya, as Vice President, supported him in corporate finance and banking activities. Both executives are set to be presented before a court, and the investigation continues, with the CBI having registered seven cases against the Reliance Group recently.
Published 8 hours ago • 21 Apr 2026, 07:48 AM IST