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The latest announcement is out from Reliance Communications Limited ( (IN:RCOM) ).
Reliance Communications Limited has been informed by the Bank of Maharashtra that its loan account has been classified as ‘fraud’. This development comes as the company is undergoing a corporate insolvency resolution process. The classification pertains to credit facilities prior to the insolvency process, and the resolution of these issues is expected to be addressed as part of the ongoing resolution plan. The company is protected from legal proceedings…