Reliance submits documents in bribery probe, exec gets bail

Reliance Industries has submitted documents to federal investigators in Central Bureau of Investigation (CBI) as part of an ongoing bribery probe involving a senior executive, according to a court order.

The case relates to allegations that a senior vice president of Reliance and an aviation regulator official agreed to a $16,000 bribe to facilitate approvals for drone imports linked to Asteria Aerospace, a subsidiary associated with Reliance, News.Az reports, citing Reuters.

A New Delhi court granted bail to the Reliance executive on a personal bond of 100,000 rupees ($1,050). The official from India’s civil aviation regulator remains in custody. Both individuals have denied the allegations.

Investigators have also questioned co-founders of Asteria Aerospace as part of the wider inquiry. The company develops drone-based solutions and operates in sectors including agriculture, telecom, construction, and energy.

Reliance, led by billionaire Mukesh Ambani, said previously that the executive was working as a consultant and that the company was not aware of or involved in any alleged unauthorized transaction.

The investigation comes at a sensitive time for Reliance’s digital and technology ambitions, as its subsidiary Jio Platforms prepares regulatory filings for a potential listing in Mumbai that could become one of India’s largest public offerings.

Authorities have not disclosed the exact documents submitted by Reliance, and the investigation remains ongoing.

News.Az 

By Aysel Mammadzada