Reliance Communications Limited has informed the Exchange about General Updates
RCOM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
CBI conducted a search and seizure operation on May 9, 2026, at the residence of Smt. Grace Thomas, a Non Executive and Non Independent Director of RCOM and former director of Reliance Telecom Limited (RTL), a wholly owned subsidiary. During the operation, CBI officials seized personal documents, a copy of forensic audit reports for RCOM, Reliance Infratel Limited, and RTL prepared by BDO India LLP, and account records of RTL. The search was conducted under Sections 120-B and 420 IPC (criminal conspiracy and cheating) and Section 13(2) r/w 13(1)(d) of the Prevention of Corruption Act, 1988. The company stated the operation is not expected to impact its financials or operations, and noted that RCOM is already under corporate insolvency resolution process under IBC since June 2019.
This is a negative development as it involves a CBI investigation citing fraud-related sections against a company director. While the company claims no operational impact, the ongoing insolvency proceedings combined with a corruption investigation adds legal uncertainty and may affect stakeholder confidence in the resolution process.