Reliance Industries Submits Documents In Drone Import Bribery Probe
India’s largest listed company, Reliance Industries, has submitted documents requested by federal investigators in connection with a drone import bribery case involving a senior executive, according to a court order issued in New Delhi.
The order, released by a city court, did not specify the nature of the documents sought by the Central Bureau of Investigation. However, it confirms that the probe into alleged irregularities linked to drone import clearances is progressing.
Arrest And Allegations In The Case
The investigation centres on Bharat Mathur, a senior vice president at Reliance, who was arrested last month alongside an official from India’s aviation regulator. Authorities allege that the two agreed to accept a bribe of $16,000 to facilitate approvals for drone import applications tied to Asteria Aerospace, a subsidiary of Reliance.
Both individuals have denied the allegations. A court has granted bail to Mathur, 64, on a personal bond of ₹100,000, while the aviation official remains in custody.
Reliance has previously stated that Mathur was engaged as a consultant and that the company had no knowledge of, or involvement in, any unauthorised transactions.
Role Of Asteria Aerospace
Asteria Aerospace operates as a drone technology provider, offering aerial data solutions across sectors such as agriculture, construction, telecommunications and oil and gas. The company has deployed more than 400 drones and positions itself as a provider of actionable intelligence derived from aerial operations.
Founded in 2011, Asteria was acquired by Reliance in 2019 through a $2.45 million deal. Investigators have also questioned the company’s co-founders as part of the ongoing probe, indicating a broader examination of its operations and regulatory interactions.
Broader Corporate Context
The investigation comes at a critical time for Reliance’s technology ambitions. Jio Platforms, which owns Asteria Aerospace, is preparing to seek regulatory approvals for a potential public listing in Mumbai. The offering is expected to be one of the largest in India’s capital markets history.
This context adds significance to the case, as regulatory scrutiny could influence investor sentiment and approval processes.
Ongoing Investigation And Implications
While the Central Bureau of Investigation has not publicly disclosed further details, the submission of documents suggests that the inquiry is advancing. At the same time, the absence of detailed disclosures in the court order leaves key aspects of the case unclear.
The outcome of the investigation may have implications not only for individuals involved but also for corporate governance standards within large conglomerates operating in emerging technology sectors.