The accounts of three Anil Ambani-led Reliance Group entities have reportedly been flagged as fraudulent by three banks, including India’s largest lender, the State Bank of India (SBI). Reliance Communications, Reliance Infratel, and Reliance Telecom owe lenders as much as a whopping ₹86,188 crore. Anil Ambani has been claiming that his net worth is zero. This is ten times more than the debt garnered by former billionaires Vijay Mallya and Nirav Modi.

 

Three nationalized banks namely, the State Bank of India (SBI), Union Bank of India and the Indian Overseas Bank (IOB) have claimed that the bank accounts held by the Anil Ambani held Reliance Group are fake and fraudulent.

 

The Delhi High Court has, however, directed Union Bank of India and Indian Overseas Bank to maintain the status quo in a matter pertaining to the classification of accounts as fraudulent until the next hearing on January 13.

Reliance Telecom owes ₹24,306.27 crore and Reliance Infratel owes ₹12,687.65 crore.

According to hwnews,The company owes Rs 49,193 crore in dues according to its website. Reliance Telecom and Reliance Infratel, in addition to that, owe Rs 24,306.27 crore and Rs 12,687.65 crore respectively. The total amounts to whopping Rs 86,188 crore, that too excluding the Rs 28,837 that’s owed in spectrum dues. The amount is ten times more than what fugitive billionaire Vijay Mallya owed Indian banks, with debt amounting to ₹9,000 crore. The amount owed by Nirav Modi is Rs 7,409.07 crore. Reliance Communications debt is ten times more than Modi’s.

 

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here