Reliance Communications and Reliance Telecom loan accounts, along with directors including Anil Ambani, have been tagged as fraud by Bank of India after a forensic audit flagged diversion of funds. The CBI raided Ambani’s Mumbai home and RCom offices following SBI’s complaint. Ambani denied all allegations, while Reliance Power and Reliance Infra clarified no operational or financial linkages to RCom.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets