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[QUOTE="Munyaradzi Mafaro, post: 54214, member: 636"]
Parliament heard Finance Minister Pankaj Chaudhary declare that State Bank of India designated Reliance Communications Limited and promoter Anil Ambani as fraudulent entities. The classification follows Reserve Bank of India fraud management directives and the bank's approved policies. SBI plans to submit a formal complaint to the Central Bureau of Investigation regarding this matter. The bank notified RBI about the fraud designation on June 24, 2025, while RCOM's Resolution Professional disclosed this information to Bombay Stock Exchange on July 1, 2025. SBI faces credit exposure of Rs 2,227.64 crore in outstanding principal plus accumulated interest and expenses since August 2016, alongside Rs 786.52 crore in bank guarantees.

RCOM operates under Corporate Insolvency Resolution Process through the Insolvency and Bankruptcy Code. The National Company Law Tribunal in Mumbai awaits approval of the resolution plan submitted March 6, 2020. SBI previously classified the account as fraudulent in November 2020 but reversed this decision in September 2023 following Supreme Court requirements for borrower representation opportunities.
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