Reliance Communications Ltd

Canara Bank Classifies Reliance Telecom's Credit as Fraud 🏦⚠️

- Canara Bank classified Reliance Telecom Limited's credit facilities as fraud on February 27, 2026

- Forensic audit by BDO India LLP identified ₹31,580 crores in irregularities from 2013-2017

- ₹12,667.73 crores used for loan repayments

- ₹12,692.31 crores paid to connected parties

- Funds not used as per sanction terms

- Both RCOM and RTL under Corporate Insolvency Resolution Process since 2019

- Resolution plans awaiting NCLT approval

- Legal advice being sought on fraud classification during insolvency moratorium