Wednesday, 2 July 2025 () SBI has classified Reliance Communications' loan account as fraudulent, implicating former director Anil Ambani and planning to report him to the RBI. This action, stemming from a 2020 forensic audit, triggers legal challenges amidst RCom's insolvency proceedings. Allegations include significant fund diversions to connected parties, prompting accusations of unfair targeting against Ambani.
SBI's order is in direct contravention of various judgments of the Supreme Court and the Bombay High Court, as well as RBI guidelines, the RCom counsel said. DNA
Wednesday, 2 July 2025 ()
