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Three #AnilAmbani companies have reportedly been accused of fraud by banks — the amount at stake is nearly ten times more than what #Mallya owed
businessinsider.in/business/corpo…
By @pabsgill
businessinsider.in/business/corpo…
By @pabsgill
In the midst of Reliance Communications’ bankruptcy resolution process, three Indian banks — the State Bank of India (SBI), Union Bank of India (UBI) and the Indian Overseas Bank (IOB) — are classifying the company’s accounts and the accounts of its units as fraudulent.
Sources told the Economic Times that the three banks, which includes India’s largest lender, are looking to launch a deeper probe into the transactions...
