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Bank of Baroda labels RCom's loan accounts 'fraud': Here's why
Bank of Baroda has officially labeled the loan accounts of Reliance Communications and its former director, Anil Ambani, as "fraud."
The bank notified the company on September 2, 2025, and this move was revealed in a late exchange filing.
Reliance Communications says it plans to get legal advice in response.
Bank's concerns about financial activities before insolvency proceedings
The bank's concerns are about financial activities that happened before Reliance Communications entered insolvency proceedings back in March 2020.
The company is still waiting for its restructuring plan to get approved by the National Company Law Tribunal.
For now, Reliance Communications will have to sort things out through legal channels or possibly face liquidation—which could impact the resolution of their financial situation.