New Delhi, Sept. 5 -- Public sector lender Bank of Baroda has classified the loan accounts of Reliance Communications (RCom) and its promoter and director, Anil Ambani, as 'fraud'. Reacting to the development, Ambani has strongly denied all allegations.

In a statement issued on his behalf, a spokesperson said the bank's action pertains to matters dating back more than 12 years, around 2013, as per disclosures and records in the public domain.

The spokesperson emphasized that Anil Ambani served only as a Non-Executive Director on Reliance Communications' board from its inception in 2006 until his resignation in 2019.

"He was never an Executive Director or a Key Managerial Personnel (KMP) of the company, and had no role whatsoever in the...