New Delhi, March 26 -- The Central Bureau of Investigation on Thursday said that it has registered a case against Reliance Telecom Ltd., Satish Seth (then Director), Gautam B. Doshi (then Director), and others, and is conducting raids in this connection in Mumbai.
An official said that the case was registered based on a complaint received from State Bank of India, alleging that the accused defrauded the bank and caused a wrongful loss of Rs. 114.98 crore.
The CBI further stated that SBI was part of a consortium of 11 banks that had sanctioned a total term loan facility of Rs. 735 crore to Reliance Telecom Ltd.
"After registering the case, the CBI conducted searches in Mumbai at the residences of Satish Seth and Gautam B. Doshi, as well a...