According to officials, the cases involve Reliance Telecom Limited, Reliance Commercial Finance Limited and Reliance Home Finance Limited. The investigation is focused on alleged financial irregularities and diversion of funds.
The agency said raids were conducted at the homes of company directors as well as offices of intermediary firms. These firms are suspected to have been used for the diversion of bank funds.
The CBI had obtained a search warrant from a special court in Mumbai on Friday before launching the operation.
During the searches, officials said they recovered incriminating documents, which are now being examined as part of the ongoing probe.
Investigators have alleged that banks and Life Insurance Corporation of India suffered losses of around ₹27,337 crore in these cases.
The agency also said its searches revealed that several intermediary companies were operating from the same address, raising more questions about the flow of funds.
So far, there has been no immediate response from the companies involved.
The CBI has registered seven cases against companies linked to the Anil Ambani-led Reliance Group based on complaints from public sector banks and LIC over alleged fraud involving thousands of crores.
In the past few months, the agency had also conducted searches at 14 different locations soon after these cases were registered.
Earlier, on April 24, the CBI arrested two senior executives of RCom in connection with the investigation. Both are currently in judicial custody.
Officials added that the ongoing investigation into the cases is being monitored by the Supreme Court.
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