RCom loan fraud: The one Reliance company that failed
Reliance Communications (RCom), once a formidable force in India’s booming telecommunications industry, had a rapid ascent and a spectacular decline. In the latest development about the beleaguered company, State Bank of India has decided to mark Reliance Communications’ loan account as “fraud” and report the name of Anil Dhirajlal Ambani (erstwhile director of the company) to the RBI, in a case that stretches back to August 2016. RCom has confirmed this move in an official filing.
