Reliance Anil Ambani | Image:
Republic
RCom Loan Case: Reliance Communications Ltd. (RCom) and its former director Anil Ambani faced a fresh blow on September 5, 2025. Bank of Baroda declared its loan accounts as “fraud.”
The bank clarified in an exchange filing that these loans were taken before RCom entered insolvency in 2019.
The move follows similar actions by the State Bank of India (SBI) in June 2025 and the Bank of India (BoI) in August 2025, both of which had also classified RCom’s loans as fraudulent.
What Did RCom And Anil Ambani Said?
RCom, however, has pushed back. It argued that such loans, since they were taken before the corporate insolvency resolution process (CIRP) began, must be resolved through…