2 min readNew DelhiApr 20, 2026 10:20 PM IST
The CBI has arrested two senior executives of Reliance Communications (RCOM) in connection with an alleged bank fraud case, the agency said on Monday.
According to the CBI, the arrested have been identified as Joint President D Vishwanath and Vice President Anil Kalya.
The agency had registered a case following a complaint by SBI, accusing RCOM, its promoter Anil Ambani, and others of fraudulent diversion of loan funds. SBI suffered around Rs 2,929 crore losses, while the total exposure of 17 public sector banks and financial institutions is estimated at Rs 19,694 crore, according to CBI.
“Probe has revealed that RCOM Ltd entered into circuitous transactions through shell entities controlled by company’s officials and also got discounted LCs opened for bogus service-related transactions with its group entities, which got devolved causing huge loss to the banks,” a CBI spokesperson said in a statement.
The spokesperson said that Vishwanath “was overall in-charge of banking operations of the group and on his directions the mis-utilization of funds were carried out. He was in coordination with banks for sanction and disbursal of facilities to the accused company.”
Anil Kalya, the spokesperson said, “had actively supported Vishwanth and these two were important functionaries of the RCOM Group managing corporate finance, banking operations, payments/utilisation of funds etc”.
When contacted, a spokesperson for Reliance Group, said, “D Vishwanath and Anil Kalya served as Chief Financial Officer (CFO) and Vice President (Accounts and Finance), respectively, at Reliance Communications (RCOM) after the company was admitted into the Corporate Insolvency Resolution Process in 2019.”
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“RCOM operates under the supervision of Resolution Professional, Anish Nanavaty, who was appointed by the Committee of Creditors led by the SBI, with Deloitte acting as advisor. Reliance Communications is no longer part of the Reliance Group as the company has been undergoing CIRP since 2019 under IBC, 2016, and has remained in the resolution process for nearly seven years, with proceedings still pending in 2026,” it said.
“Anil D Ambani served as a non-executive director on the board of RCOM and stepped down from this position in 2019. He was not involved in the day-to-day operations of the company,” it added.
