Reliance Communications shares in focus after Bank of Baroda classifies Anil Ambani, RCom loan accounts as ‘fraud’

Reliance Communications’ shares will be closely watched after Bank of Baroda declared the company’s and Anil Ambani’s loan accounts as fraudulent. This classification, made under the bank’s authority, relates to loans predating the company’s Corporate Insolvency Resolution Process. RCom is undergoing CIRP, with a resolution plan awaiting NCLT approval, while a review of avoidance transactions is underway.

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