Photo: Business Standard
SBI, IOB, Union Bank To Launch Probe Anil Ambani's Reliance Group
Banks including SBI, IOB, and Union Bank of India have flagged Anil Ambani-owned Reliance Group entities - Reliance Communications, Reliance Infratel, and Reliance Telecom - as fraudulent. Reportedly, the banks are likely to launch an investigation into the transactions from the accounts of the companies. While banks state that Anil's Reliance owes about Rs 86,188 crore, the company's official website sites Rs 49,193 crore as due.
Tags: ANIL AMBANI, Mukesh Ambani, RELIANCE COMMUNICATIONS, SBI, Fraudulent
Courtesy: Business Insider
Photo: Twitter / AnilAmbanii
SBI Claims Ambani Offered $160 Million Personal Guarantees, Tribunal to Verify
In order to verify SBI's claim that Anil Ambani offered personal guarantees of around $160 million when seeking loans, National Company Law Tribune (NCLT) in Mumbai has appointed a bankruptcy administrator. The former billionaire borrowed loans in 2016 on behalf of Reliance Communications Ltd and Reliance Infratel Ltd, which are now claimed to be insolvent. The court rejected "SBI's request for a restriction on Mr Ambani from dealing or… read-more
Tags: SBI, ANIL AMBANI, NCLT, BANKRUPTCY, RELIANCE COMMUNICATIONS
Courtesy: NDTV
