SBI's RCom fraud tag has no impact on us: RInfra, RPower

Reliance Infrastructure and Reliance Power on Thursday said that State Bank of India’s move to classify the loan account of Reliance Communications as fraud has no impact on their business operations and financial performance.

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The development also has no impact on their shareholders, employees, or any other stakeholders, the two Anil Dhirubhai Ambani group (ADAG) companies stated in separate exchange filings. The ADAG companies said they are separate and independent listed entities with no business or financial linkage to Reliance Communications. Further, Anil D Ambani is not on the Board of Reliance Infrastructure and Reliance Power. Accordingly, any action taken i