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.