New Delhi: State Bank of India (SBI) has called the accounts of three companies of Anil Ambani's Reliance Group Reliance Communication, Reliance Infratel and Reliance Telecom in the Delhi High Court as 'fraud'. The SBI has told the court that during their audit, misuse, transfer and misappropriation of funds have come to light, hence the bank has placed them in the category of 'fraud'.
Anil Ambani's difficulties may increase after this information given by the bank to the court. According to media reports, SBI may demand a CBI inquiry in this case regarding banking fraud. The Delhi High Court has asked SBI to maintain status quo on the accounts of Anil Ambani's companies. According to sources, three companies of Anil Ambani owe more than Rs 49,000 crore to banks. It owes Rs 12,000 crore to Reliance Infratel and Rs 24,000 crore to Reliance Telecom.
A bank declares a loan as 'fraud' when the loan comes under the purview of NPA. According to the rule, after a bank account is declared 'fraud', it has to be informed to the Reserve Bank of India (RBI) within seven days. And if the case is of fraud of more than one crore rupees, then the RBI has to file an FIR in the CBI within 30 days of giving the information.
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