CBI Raids 17 Mumbai Locations in ₹27,337 Crore Alleged Fraud Cases Linked to Reliance ADA Group

The Central Bureau of Investigation (CBI) has carried out searches at 17 locations across Mumbai in connection with three cases registered against companies linked to the Reliance ADA Group led by Anil Ambani.

According to the CBI, the raids were conducted at the residences of company directors and offices of intermediary firms allegedly used for diversion of bank funds. During the searches, investigators reportedly seized several incriminating documents.

The agency said the investigation also uncovered that multiple intermediary companies were operating from the same address, raising suspicion over the alleged routing and diversion of funds.

The CBI stated that over the past few months, seven cases have been registered against the Reliance Group based on complaints filed by various public sector banks and the Life Insurance Corporation of India (LIC). The complaints relate to alleged bank frauds involving thousands of crores of rupees.

Officials said the total alleged loss in these cases is estimated at around ₹27,337 crore, and further investigation is underway.