Canara Bank labels loan accounts of Anil Ambani’s Reliance Communications as “fraud”: After availing and enjoying the said loans, your company …

Canara Bank has reportedly classified the loan accounts of Anil Ambani’s bankrupt telecom venture, Reliance Communications, and its subsidiary as fraudulent, alleging the misappropriation of Rs 1,050 crore loaned in 2017. These loans were initially intended for capital expenditure and debt repayment.