Bad news for Anil Ambani as SBI flags Reliance Communications loan as…, he may have to…

RCom filed a securities filing on Tuesday, disclosing the move of India's biggest lender. Last year, state-run Canara Bank also tagged the RCom loan account as ‘fraud', a decision that the Bombay high court stayed.

Reliance Communications is part of the group led by Anil Ambani, the brother of India's richest person, Mukesh Ambani, who chairs the oil-to-telecoms conglomerate Reliance Industries. According to Reuters, Reliance Communications disclosed in April that as of March 2025, it had a total debt of ₹40,400 crore.

Under Indian banking laws, once an account is reported as fraudulent, it is referred to enforcement agencies for criminal action, and the borrower is barred from securing any more finance from banks and other regulated financial institutions for an initial period of five years.