Drone Scandal Unveils Trouble in India's Corporate Giant

Reliance Industries, India's largest publicly traded company, is entangled in a federal police investigation concerning bribery allegations tied to drone imports. The case has led to the arrest of Bharat Mathur, a senior vice president at Reliance, and an official from the country's aviation regulator.

The Central Bureau of Investigation (CBI) alleges that Mathur and the regulator conspired for a $16,000 bribe to expedite drone import approvals for Asteria Aerospace, a unit of Reliance. Mathur, who was granted bail, and the government official, who remains in custody, both deny the charges.

This legal scrutiny comes at a critical time for Reliance, as its subsidiary Jio Platforms is preparing for a major stock market debut in Mumbai. Meanwhile, Reliance has distanced itself, claiming the transaction was unauthorized and Mathur acted alone.

(With inputs from agencies.)