CBI conducts search and seizure operation at office premises of Reliance Communications Ltd

New Delhi: A search and seizure operation was conducted by the officials of the Central Bureau of Investigation at the office premises of the Reliance Communications Ltd located at B Block and H Block, Dhirubhai Ambani Knowledge City, Navi Mumbai – 400710.

In this operation, with part of which the officials took into possession the original minutes of the meetings of the Board of Directors of the Company for the period from 15/05/2010 to 11/02/2017, along with the Company’s wholly owned subsidiary Reliance Telecom Limited for the period from 14/05/2010 to 10/02/2017, along with various financial, secretarial and banking documents pertaining to the Company and its subsidiaries, which were kept at the aforesaid office premises of the Company.

The search has been carried out under the provisions of Section 185 of the Bharatiya Nagarik Suraksha Sanhita, 2023.

The search and seizure operation conducted by officials of the Central Bureau of Investigation is not expected to have any impact on the financials or operations of the Company. Further, the Company is undergoing corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 (“IBC”), and is subject to protections available under the provisions of the IBC.

Reliance Communications Limited is under corporate insolvency resolution process pursuant to the provisions of the Insolvency and Bankruptcy Code, 2016. With effect from June 28, 2019, its affairs, business and assets are being managed by, and the powers of the board of directors are vested in, the Resolution Professional, Mr. Anish Niranjan Nanavaty, appointed by Hon'ble National Company Law Tribunal, Mumbai Bench, vide order dated June 21, 2019 which was published on the website of the Hon'ble National Company Law Tribunal, Mumbai Bench on June 28, 2019.