CBI took action on SBI’s complaint
New Delhi. The Central Bureau of Investigation (CBI) raided the residences and office of the company after registering an FIR against two former directors of Reliance Telecom in an alleged Rs 114.98 crore fraud in the State Bank of India (SBI).
The CBI has booked Reliance Telecom Limited, Satish Seth (then Director), Gautam B. A case has been registered against the culprit (then director), unknown public servants and other unknown people.
The CBI acted on a complaint by SBI, in which the bank had complained of fraud and loss of Rs 114.98 crore.
SBI was a member of the group of 11 banks that sanctioned a total loan of Rs 735 crore to Reliance Telecom Limited. CBI arrested Satish Seth, Gautam B. in Mumbai. Raids were conducted at the residence of the accused and the registered office of Reliance Telecom Limited. Various documents to loan transactions have been recovered during the raid.
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