Anil Ambani’s counsel terms SBI’s ‘fraud’ tag on RCom account as ‘shocking’, cites regulatory overreach
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…