CBI Registers ₹1.5 Cr Loss Sbi Fraud Against Ambani Group's Relyance Teleco And Searches Offices
The Central Bureau of Investigation has registered a case against Reliance Telecom Ltd for causing an estimated ₹1.5 crore loss to the State Bank of India in what is described as one of its largest fraud cases, with authorities conducting searches at company offices and residences on Thursday March 26th (Publishtribuneindia.com).
Key Points
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1The Central Bureau of Investigation has registered a First Information Report against Reliance Telecom Ltd. and its former directors for an alleged SBI fraud.
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2CIB officials conducted searches at the residences of Satish Seth, Gautam B Doshi (former Directors), as well as company offices in Mumbai on Thursday evening.
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3The investigation pertains to a specific financial loss amounting approximately Rs 114.98 crore attributed by authorities.
Developments
The Central Bureau of Investigation (CBI) has registered an FIR and conducted searches at two former directors' residences following allegations that they defrauded the State Bank of India out of approximately ₹114.98 crores in connection with a loan to Reliance Telecom Ltd, while recovering various documents related to these transactions during raids on Mumbai offices as part of broader investigations into financial irregularities within the group's companies and its leadership
The Central Bureau of Investigation (CBI) has registered a case against Reliance Telecom Ltd., its former directors Satish Seth and Gautam B. Doshi, for allegedly cheating the State Bank of India out of ₹114.98 crore within an overall loan facility sanctioned by 11 banks totaling ₹735 crore following searches at their residences in Mumbai that recovered relevant documents.
The Central Bureau of Investigation (CBI) has searched two former directors' residences in Mumbai following an FIR for alleged fraud involving a Rs 114.98 crore wrongful loss to State Bank of India's consortium loan facility with Reliance Telecom Ltd., and recovered documents connected to the transaction during these searches on Thursday.