Rs 31480 Crore Fraud ! How Anil Ambani company Committed fraud with SBI

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SBI Declares Reliance Communications Loan as Fraud: Key Points
1. Here are 10 key developments regarding the SBI-RCom fraud classification case:
• SBI classified Reliance Communications Ltd’s (RCom) pre-CIRP loan account as ‘fraud’ on June 23, 2025, following forensic audits and show-cause notices.
• The fraud identification was based on findings that ₹13,667 crore was used to repay other loans, ₹12,692 crore transferred to related parties, and ₹6,265 crore misused for unsanctioned purposes.
• Funds were allegedly routed through RCom subsidiaries (e.g., RCIL, RITL, RTL), indicating irregular financial practices.
• SBI intends to report the fraud classification and name of former director Anil Ambani to the Reserve Bank of India.
• RCom argues that the loans in question were taken before its 2019 insolvency (CIRP) and are protected under Section 32A of IBC.
• Canara Bank had previously flagged the same account as fraudulent in 2024, but the Bombay High Court stayed its decision in 2025.
• Reliance group stocks, including Reliance Power and Reliance Infrastructure, experienced declines following the announcement.
• Under RBI rules, a fraud tag may bar future borrowings for five years post-repayment and could trigger CBI or ED investigations.
• SBI issued notices across 2023-24 and finalized its fraud classification in June 2025 after review by its Fraud Identification Committee.
• RCom claims the classification was done without fair hearing or access to audit reports, calling SBI’s decision ‘ex-parte’.

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