New Delhi, July 2
The State Bank of India (SBI) has decided to report the loan account of Reliance Communications as “fraud” in a case that dates back to August 2016.
Reliance Communications said in an exchange filing that this disclosure is being made pursuant to the rules of the Securities and Exchange Board of India (SEBI).
“This is to inform you that Company has received letter dated June 23, 2025 (received on June 30, 2025) from SBI (marked to he Company and its erstwhile director - Shri Anil Dhirajlal Ambani), inter alia, stating that SBI has decided to report the loan account of the Company as “fraud” and to report the name of Shri Anil Dhirajlal Ambani (erstwhile director of the Company) to the RBI, as per the extant RBI guidelines,” the company said in the BSE filing.
Reliance Communications is part of the Anil Ambani-led Reliance Group. The company is undergoing corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016.
“A resolution plan has been approved by the committee of creditors of the Company in accordance with the Code and is presently awaiting approval of the National Company Law Tribunal, Mumbai Bench,” the exchange filing read.