Reliance Communications Limited has informed the Exchange about General Updates
RCOM · price
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Reliance Communications Limited informed the exchanges that officials of the Central Bureau of Investigation (CBI) conducted a search and seizure at the office of its wholly owned subsidiary, Reliance Telecom Limited (RTL), at Dhirubhai Ambani Knowledge City, Navi Mumbai on March 26, 2026. During the search, CBI officials seized correspondence between RTL/RCOM and banks and financial institutions related to credit facilities, term loans, working capital limits, due diligence reports, and original signed financials of RTL from FY 2012-13 to FY 2018-19, along with a portable SSD containing books of accounts data. The search was carried out under Section 185 / Section 103(6) of the Bharatiya Nagarik Suraksha Sanhita, 2023. The company stated the operation is not expected to have any material impact on its financials or operations. Both RCOM and RTL remain under the Corporate Insolvency Resolution Process (CIRP) under the IBC, 2016, with a Resolution Professional currently managing their affairs.
The company asserts no material financial or operational impact from the CBI search. However, the seizure of historical banking and financial documents related to credit facilities and loans from 2012-2019 could potentially lead to further investigation or legal proceedings. Given that RCOM is already under insolvency resolution, the direct effect on equity shareholders is likely limited, though it adds to the existing overhang of legal and regulatory uncertainty on the stock.