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After SBI, Bol tags RCom, Anil Ambani as fraud
Mint Chennai
|August 25, 2025
After the State Bank of India, Bank of India has classified the loan account of insolvent Reliance Communications as fraudulent and named its former director, tycoon Anil Ambani, citing alleged fund diversion in 2016, according to a regulatory filing.
State-owned Bank of India (BoI) granted a ₹700-crore loan in August 2016 to Reliance Communications for its ongoing capital and operational expenditure and repayment of existing liabilities. Half of the sanctioned amount disbursed in October 2016 was invested in a fixed deposit, which was not permitted as per the sanction letter, according to the bank's letter that RCom disclosed in a stock exc
Esta historia es de la edición August 25, 2025 de Mint Chennai.
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