After State Bank of India and Bank of India, another Loanschieterbank from Baroda has classified the loan account of Insolvent Relocation Communication as fraudulent and his former director, Tycoon Anil Ambani, mentioned, under alleged abuse of loans that lost more than a decade, according to a regulatory submission.
Rcom said it received a letter from Bob of 2 September in which he conveys his decision to classify the loan account of the company and promoter Anil Ambani as “fraud”.
Bank of Baroda had £ 1,600 crore and another £ 862.50 crore in the credit line to the company. Of the total crore of £ 2,462.50, £ 1,656.07 Crore will remain out of August 28, according to the lenders described by RCOM in the legal archiving.
“The bill was classified as a non-prestigating Activum (NPA) with effect from 5 June 2017,” said the letter.
While RCOM business resolution procedures for business resolution are undergiving to find a freer to take over the company and to erase its obligations, Bob said in the letter that there is currently no active resolution plan that has been approved by the NCLT.
It continued to state that the declaration of fraud is based on findings/observations in forensic audit reports and “such classification is in line with the principles of natural justice.”
In a statement, a spokesperson for Ambani said that Bank or Baroda’s action relates to issues that date more than 12 years.
“It is relevant to note that from the beginning in 2006 to his resignation in 2019, more than six years ago, a non-executive director of the Board of RCOM council, more than six years ago, said it.
“He was never executive director or a KMP of the company and had no role in the daily activities or decision -making of the company,” said it.
It said that RCOM had a credit giver consortium consisting of 14 banks, said: “After an excessive decline of more than 10 years of selected lenders have now chosen to start a procedure in a spread and selective way on Mr Ambani.”
It was then stated that RCOM is under the supervision of a committee of creditors led by SBI and under the supervision of a resolution professional.
“The SBI led by SBI had unanimously approved the resolution plan of the successful resolution application in March 2020. The case remains sub -judge, awaiting the NCLT and other judicial forms, including the Supreme Court, the past six years and the lenders have not taken any steps to” said the resolution, “
Ambani, the statement said, “categorically denies all allegations and charges and will pursue remedies that are available to him in accordance with legal advice.” Earlier State Bank of India (SBI) and Bank of India (BOI) had given comparable tags to RCOM and Ambani.
According to the banking laws, once an account must be declared, this is referred to enforcement agencies for criminal action, and the borrower is excluded from access to new finances of banks and regulated institutions for five years.
RCOM had announced in April that the total debt in March was £ 40,400 crore.
After unpaid loans, the company was admitted to insolvency and bankruptcy procedures.
Published on September 5, 2025
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