CBI quizzes 3 ex-senior execs of Anil Ambani group in fraud probe

NEW DELHI: Deepening its probe into the alleged multi-crore fraud involving Reliance Communications (RCOM) and State Bank of India (SBI), CBI has questioned 3 erstwhile top-tier executives of the Anil Ambani-led Reliance Group.The bureau issued summons to Satish Seth and Gautam Doshi, some erstwhile radical managing directors, for introspection successful transportation with the FIR registered pursuing a ceremonial ailment by SBI. This followed the questioning of a 3rd erstwhile radical managing director, Amitabh Jhunjhunwala.Seth, who antecedently held the presumption of vice-chairman astatine Reliance Infrastructure Ltd and served connected the committee of Reliance Telecom Ltd (RTL), was questioned alongside Doshi, who was besides a committee subordinate of RTL.

Sources said that the CBI examined Jhunjhunwala implicit a three-day play starring up to the scheduled quality of Anil Ambani connected March 19 and 20.Jhunjhunwala, a longtime confidant of the group, formerly served arsenic the vice-chairman of Reliance Capital. The 3 executives were cardinal figures successful the Anil Ambani-led Reliance Group for implicit 15 years. Both Seth and Jhunjhunwala were veterans of the undivided Reliance Group, having been associated with Reliance Industries Limited for much than 2 decades anterior to the highprofile firm demerger.

All 3 person since moved connected to autarkic ventures. Jhunjhunwala is presently an autarkic money manager with operations successful Dubai and Singapore. Seth is present engaged successful existent property and bundle ventures. Doshi, officials said, presently leads a salient taxation and mergers and acquisitions advisory firm, successful summation to serving connected the boards of large companies.When contacted, the Reliance radical refused to remark saying these officials were not with the institution anymore.

The Supreme Court had earlier asked CBI to record abstracted FIRs into complaints of antithetic banks against Anil Ambani radical companies.Last year, CBI filed a lawsuit against M/s Reliance Communications based connected a ailment lodged by the SBI, which is the pb slope of a consortium consisting of 11 banks, successful an alleged fraud lawsuit of Rs 2,929 crore.According to the CBI, the ailment is based connected a forensic audit study that alleges large-scale diversion and misuse of indebtedness funds done interlinked and circuitous transactions among radical entities during the play 2013-17, resulting successful wrongful nonaccomplishment of Rs 2,929 crore to SBI retired of full vulnerability of Rs 19,694 crore involving 17 nationalist assemblage banks.