According to an official statement issued by the Central Bureau of Investigation, the searches were carried out at the residential premises of the Directors of the three companies and at the office premises of intermediary companies whose bank accounts were allegedly used to divert funds obtained from financial institutions.
The agency stated that the searches were conducted under Search Warrants dated May 8, issued by the Special Judge for CBI cases in Mumbai. During the operation, investigators seized several incriminating documents that are expected to play a crucial role in the ongoing probe.
The CBI further revealed that multiple intermediary companies were found to be operating from the same address, a discovery that has intensified suspicions regarding the alleged diversion and layering of funds. Officials said the investigation remains in progress and additional findings are likely to emerge as documents are scrutinized.
The latest action follows a series of cases registered by the CBI over the past several months against companies of the Anil Ambani-led Reliance Group. In total, seven cases have been filed on the basis of complaints submitted by various public sector banks and the Life Insurance Corporation of India in connection with alleged frauds involving thousands of crores of rupees.
The coordinated searches mark a major development in one of the most closely watched financial investigations in recent years. With allegations involving the misuse of banking funds, the seizure of key documents, and the discovery of interconnected intermediary entities, the probe has assumed significant importance for India's financial and regulatory institutions.
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