TrendingVideosIndia
Opinions ▾
Opinions | CommentEditorialsThe MiddleLetters to the EditorReflections
UPSC ▾
UPSC | Exam ScheduleExam Mentor
State ▾
State | Himachal PradeshPunjabJammu & KashmirHaryanaChhattisgarhMadhya PradeshRajasthanUttarakhandUttar Pradesh
City ▾
City | ChandigarhAmritsarJalandharLudhianaDelhiPatialaBathindaShaharnama
World ▾
World | ChinaUnited StatesPakistan
Diaspora
Features ▾
Features | The Tribune ScienceTime CapsuleSpectrumIn-DepthTravelFood
Business ▾
Business | My MoneyAutoZone
News Columns ▾
News Columns | Straight DriveCanada CallingLondon LetterKashmir AngleJammu JournalInside the CapitalHimachal CallingHill View
Don't Miss
Advertisement
Home / Business / Bank Of Baroda Classifies Rcom Anil Ambani As Fraud

Bank of Baroda classifies RCom, Anil Ambani as fraud

PTI
New Delhi, Updated At : 03:04 AM Sep 06, 2025 IST

Unlock Exclusive Insights with The Tribune Premium

Take your experience further with Premium access. Thought-provoking Opinions, Expert Analysis, In-depth Insights and other Member Only Benefits
Yearly Premium ₹999 ₹349/Year
Yearly Premium $49 $24.99/Year
Advertisement

After State Bank of India and Bank of India, another lender, Bank of Baroda, has classified the loan account of insolvent Reliance Communications as fraudulent and named its former director, tycoon Anil Ambani, citing alleged misutilisation of loans granted more than a decade back, according to a regulatory filing.

Advertisement

RCom said it had received a letter from BoB dated September 2 conveying its decision to classify the loan account of the company and promoter Anil Ambani as “fraud”.

Advertisement

Bank of Baroda had sanctioned Rs 1,600 crore and another Rs 862.50 crore in line of credit to the company. Of the total Rs 2,462.50 crore, Rs 1,656.07 crore remains outstanding as on August 28, according to the lenders’ letter disclosed by RCom in the regulatory filing.

“The account was classified as non-performing asset (NPA) with effect from June 5, 2017,” the letter said.

Advertisement
Advertisement

Suggested Articles

Show comments
Advertisement
Advertisement

The Tribune, now published from Chandigarh, started publication on February 2, 1881, in Lahore (now in Pakistan). It was started by Sardar Dyal Singh Majithia, a public-spirited philanthropist, and is run by a trust comprising five eminent persons as trustees.

The Tribune, the largest selling English daily in North India, publishes news and views without any bias or prejudice of any kind. Restraint and moderation, rather than agitational language and partisanship, are the hallmarks of the newspaper. It is an independent newspaper in the real sense of the term.

The Tribune has two sister publications, Punjabi Tribune (in Punjabi) and Dainik Tribune (in Hindi).

Remembering Sardar Dyal Singh Majithia

Copyright © The Tribune Trust, 2024
Designed and developed by :  SORTD