Reliance Group chairman Anil Ambani has strongly denied the allegations made in a complaint by State Bank of India (SBI) after CBI investigators carried out searches at his residence. According to Ambani’s spokesperson, the complaint pertains to matters dating back more than 10 years, when Ambani was a non-executive director with no role in the…
Reliance Power said on Thursday that the recent enforcement agency action, as reported by media, has “absolutely no impact” on its business operations, financial performance, shareholders, employees or any other stakeholders. The media reports “appear to pertain to allegations concerning transactions of Reliance Communications Limited (RCOM) or Reliance Home Finance Limited (RHFL)”, which are over 10…
After State Bank of India’s move to reportedly classify Reliance Communications’ loan account as “fraud”, legal counsel representing businessman Anil Ambani–chairman and managing director of Reliance Group–has strongly objected to what it described as an “ex-parte order” issued by the PSU lender’s Fraud Identification Committee (FIC). In a letter dated July 2 and addressed to…