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Reliance Communications Limited ( (IN:RCOM) ) has provided an update.
Reliance Communications Limited has announced that the Bank of India has classified the loan accounts of the company and its subsidiary, Reliance Telecom Limited, as ‘Fraud’. This classification also affects key individuals associated with the company, including its promoter and former directors. This development is significant as it impacts the company’s financial standing and could have implications for its ongoing insolvency resolution process.
More about Reliance Communications Limited
Reliance Communications Limited is a telecommunications company based in Navi Mumbai, India. It is involved in providing a range of telecom services and is currently under corporate insolvency resolution process as per the Insolvency and Bankruptcy Code, 2016.
Average Trading Volume: 1,617,918
Technical Sentiment Signal: Sell
Current Market Cap: 4.92B INR
Find detailed analytics on RCOM stock on TipRanks’ Stock Analysis page.