India, Sept. 5 -- Reliance Infrastructure Limited has clarified that Bank of Baroda's recent decision to classify the loan account of Reliance Communications Limited and Mr. Anil D. Ambani as fraud has no bearing on its business operations, financial performance, shareholders, employees, or other stakeholders.
The company noted that the classification pertains to matters dating back a decade. It further highlighted that Mr. Anil D. Ambani has not been on Reliance Infrastructure's Board for over 3.5 years.
Currently, Reliance Communications is under the management of a Committee of Creditors led by SBI and monitored by a Resolution Professional, with the matter pending before the NCLT and other judicial forums, including the Supreme Court,...