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Reliance Communications’ Loans Classified as Fraud by Bank of Baroda

Story Highlights
  • Reliance Communications received a fraud classification for its loans from Bank of Baroda.
  • This could impact the company’s financial standing and insolvency resolution process.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Reliance Communications’ Loans Classified as Fraud by Bank of Baroda

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Reliance Communications Limited ( (IN:RCOM) ) just unveiled an announcement.

Reliance Communications Limited has announced that it received a letter from Bank of Baroda, which has classified the company’s loan accounts and those of its promoter and director, Anil Dhirajlal Ambani, as ‘Fraud’. This classification could have significant implications for the company’s financial standing and its ongoing insolvency resolution process, potentially impacting stakeholders and creditors involved.

More about Reliance Communications Limited

Reliance Communications Limited is a telecommunications company based in Navi Mumbai, India. It has been undergoing a corporate insolvency resolution process since June 2019, with its business and assets managed by a Resolution Professional appointed by the National Company Law Tribunal.

Average Trading Volume: 1,393,131

Technical Sentiment Signal: Sell

Current Market Cap: 4.15B INR

See more data about RCOM stock on TipRanks’ Stock Analysis page.

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