Anil Ambani, SBI Declares 3 Companies’ Accounts As Fraudulent Accounts

Anil Ambani, SBI Declares 3 Companies' Accounts As Fraudulent Accounts
Anil Ambani, SBI Declares 3 Companies' Accounts As Fraudulent Accounts

At the beginning of the new year, the pressure increased on Anil Ambani. Anil Ambani’s bank accounts of Reliance Communications, Reliance Telecom, and Reliance Infratel have been identified as fraudulent accounts by the State Bank of India. The bank’s decision has also been communicated to the Delhi High Court. Experts fear that this could cause more problems for Dhirubhai Ambani’s younger son. He may have to face a major investigation in the coming days. The Delhi High Court has directed to maintain the status quo on the accounts of Anil Ambani’s companies.

Bank accounts are declared as fraudulent after becoming a non-profit asset or NPA. According to SBI, during the audit, they found misuse of funds, diversion and siphoning of funds. And that’s why they’ve identified the accounts as fraud. As per the rules, once a bank declares an account as fraudulent, it has to inform the RBI within 7 days. And if the amount of fraud is more than one crore rupees, then a complaint has to be lodged with the Central Bureau of Investigation within 30 days.

Sources said that Anil Ambani’s bank accounts totaled Rs 49,000 crore, of which Reliance Efratal’s account was Rs 12,000 crore. And Reliance Telecom had Rs 24,000 crore in its account. SBI’s decision is being touted as a black mark on the Indian industry. According to observers, Anil Ambani’s business has already come to a standstill. Then his credibility was shaken by SBI’s decision.


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