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Reliance hands over documents in bribery probe, executive gets bail – Cash My Currency- Financial Updates | Business Blog Post | Financial Guest Posting Services

Reliance hands over documents in bribery probe, executive gets bail

Reliance hands over documents in bribery probe, executive gets bail

Image used for representational purposes only.
| Photo Credit: Reuters

India’s biggest listed company, Reliance ⁠Industries, has handed over documents demanded by federal police investigating a drone import bribery case involving one of its senior vice ‌presidents, according to a court order.

The order by a New Delhi court issued on Monday (May 5, 2026) ‌night did not specify what documents were demanded ‌by ⁠the Central Bureau of Investigation (CBI).

The CBI arrested a Reliance ⁠senior vice president, Bharat Mathur, and an official from the country’s aviation regulator last month, accusing them of agreeing to a $16,000 bribe to clear ​drone import applications ‌by Asteria Aerospace, a Reliance unit.

The court also granted bail to Mathur, 64, on a personal bond of ₹100,000 ($1,050). Both he and the government official, who ‌is still in custody, have denied the allegations.

Reliance, ​which is led by billionaire Mukesh Ambani, and Asteria did not respond to Reuters ⁠queries. The CBI did not immediately respond to a request for comment.

The investigation and arrest of the senior ‌Reliance executive come as Ambani’s Jio Platforms, which owns Asteria, is gearing to file papers seeking regulatory approvals for a Mumbai listing, in what is likely to be India’s biggest-ever stock offering.

Reliance has previously said Mathur was engaged as a consultant and the company neither ‌knew of nor approved “any such unauthorised transaction.”

Asteria Aerospace describes itself as ​a drone technology company that provides “actionable intelligence from aerial data”. It provides services to agriculture, construction, telecom, ⁠and oil and gas sectors through the more than ⁠400 drones it has deployed.

The CBI investigators have also questioned co-founders of Asteria Aerospace as part of ‌the probe, the order said. The company was started in 2011 and Reliance bought it in ​a $2.45 million deal in 2019.

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