Reliance Communications’, Anil Ambani’s loan accounts declared as ‘fraudulent’ by Bank of Baroda
New Delhi, Sep 5 (SocialNews.XYZ) In a significant step, Bank of Baroda, one of India's leading public sector banks, has declared the loan accounts of Reliance Communications Ltd. (RCom) and its erstwhile Director, Anil Ambani, as 'fraud', according to an exchange filing. This classification pertains to loans taken before RCom entered the corporate insolvency resolution process (CIRP). This development marks a crucial turn in the ongoing financial saga surrounding the once-prominent telecom company and its erstwhile director.
