BoB Classifies Loan Accounts of Anil Ambani, RComm as Fraud

BANK OF BARODA (BoB) has classified the loan accounts of insolvent Reliance Communications (RComm) and its former director Anil Ambani as fraudulent, citing alleged misutilisation of loans granted more than a decade back, the firm informed the exchanges late on Thursday.

- FE BUREAU

"BoB has decided to classify the loan accounts of the company and Anil Dhirajlal Ambani (in his capacity as the promoter and director of the firm as 'fraud'," the filing said.