After dispute with SBI, Anil Ambani's Reliance Infra and Reliance Power distance themselves from…
Reliance Infrastructure and Reliance Power on Thursday clarified that the State Bank of India's decision to classify Reliance Communications' loan account as fraudulent will have no impact on their business operations or financial performance.
In separate filings to the stock exchanges, both companies stated that the development does not affect their shareholders, employees, or any other stakeholders. Reliance Infra, Reliance Power Distance From RComm
The companies said they are separate and independent listed entities with no business or financial linkage to Reliance Communications.
Further, Anil D. Ambani is not on the Board of Reliance Infrastructure and Reliance Power.
Accordingly, any action taken in relation to Reliance Communications has no bearing or impact on the governance, management, or operations, RInfra and RPower said. SBI Tag RComm Account As 'fraud'
Public lender State Bank of India has decided to classify the loan account of beleaguered telecom firm Reliance Communications as 'fraud' and to report the name of its erstwhile director — Anil Ambani to the Reserve Bank of India (RBI), an exchange filing on Wednesday.
In the filing, Reliance Communications said that it has received a letter dated June 23, 2025, from the State Bank of India (SBI) to this effect.
According to the filing, Reliance Communications and its subsidiaries received a total loan of Rs 31,580 crore from banks.
The Fraud Identification Committee of the bank has found deviations in utilisation of the loans.
The letter marked to Reliance Communications and its erstwhile director Anil Ambani stated that SBI has decided to report the loan account of the company as 'fraud' and to report the name of Anil Ambani to the RBI, as per the extant RBI guidelines, the filing said.
(With Inputs From PTI)
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