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Canara Bank withdraws order classifying Anil Ambani-led RCom loan as fraudulent
The New Indian Express Jeypore
|July 11, 2025
STATE-RUN lender Canara Bank has informed the Bombay High Court that it has withdrawn its order classifying its loan to the crippled Anil Ambani-promoted telecom company as fraudulent.
Following this disclosure, a bench of justices Revati Mohite Dere and Neela Gokhale on Thursday disposed of the petition filed by Ambani challenging the bank's order issued last year, saying "nothing survives in it now," and asked the bank to inform "the withdrawal order to the Reserve Bank," a PTI report quoting the judge said on Thursday. In September 2024, Canara Bank became the first lender to classify the RCom account, which has been in NCLT since 2019 and
This story is from the July 11, 2025 edition of The New Indian Express Jeypore.
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