CBI conducts searches in Reliance Telecom Ltd. case

The Central Bureau of Investigation (CBI) has conducted searches after registering a case against Reliance Telecom Ltd., its then directors Satish Seth and Gautam B. Doshi, and others, for allegedly cheating the State Bank of India to the tune of ₹114.98 crore.

According to the agency, the case has been instituted on a complaint from the bank, which was part of a consortium of 11 banks that had sanctioned ₹735 crore as a term loan facility to Reliance Telecom Ltd.

“After registration of the case, the CBI has conducted searches in Mumbai at the residence of Satish Seth, Gautam B. Doshi, and the registered office of Reliance Telecom Ltd. Various documents connected with the loan transactions have been recovered,” it said.