CBI tightens its grip on Anil Ambani Group, raids 17 locations in Mumbai

The CBI has further tightened its grip on companies belonging to the Anil Ambani-led Reliance ADA Group. On Saturday, the investigating agency conducted simultaneous raids at 17 locations in Mumbai in connection with alleged bank fraud and fund diversion cases.

Three companies under investigation

The CBI's action stems from cases involving three Reliance Group companies: Reliance Telecom Ltd., Reliance Commercial Finance Ltd., and Reliance Home Finance Ltd. The investigating agency suspects that money taken from the bank was transferred elsewhere.

Raids on directors' homes and offices

According to the CBI, the raids were conducted at the homes of the company directors and at the offices of intermediary companies whose accounts were used to divert funds. During the raid, the agency recovered several important documents and financial records.

Several companies were operating from the same address.

The investigation also revealed that several intermediary companies were operating from the same address. 

This has further fueled the CBI's suspicion of a network of shell companies and suspicious transactions.

Allegations of fraud worth thousands of crores

The CBI said that seven cases have been filed against the Anil Ambani Group so far, based on complaints from public sector banks and the Life Insurance Corporation of India (LIC). The estimated losses in these cases are approximately ₹27,337 crore.

Action had already been taken

The CBI previously conducted searches at 14 locations in connection with these cases. During the investigation, two senior Reliance Communications executives, D. Vishwanath and Anil Kalya, were arrested on April 20, 2026. 

The agency alleges that they played a key role in managing banking operations and the use of funds. Both are currently in judicial custody.