The agency arrested Punit Garg Thursday under PMLA in connection with Rs 40,000-crore bank fraud and money laundering case involving RCOM & its subsidiaries.
FIR is based on a complaint by SBI, which had flagged the account of Reliance Communications as fraudulent. The bank has an exposure of around Rs 3,000 cr in the firm.
In a plea to SC, lenders said any move to ban bankrupt companies such as Aircel & RCom from selling airwaves, leased from govt, will sink their insolvency resolution process.
The $680 million is the amount Industrial & Commercial Bank of China is seeking to recover from Anil Ambani by invoking a ‘personal guarantee’ he gave in 2012.
Reliance Naval says cash crunch is impacting progress of existing projects leading to extended timelines & thereby erosion of confidence amongst clients.
Anil Ambani Tuesday escaped a three-month prison term after his elder brother Mukesh Ambani agreed to repay money Reliance Communications owed to Ericsson’s local unit.
In tactical terms, the shirtless protest was worse than a self-goal. Suddenly, the fiascos of the AI Summit were forgotten, and the Youth Congress’s disruption became the issue.
IAF is fine with accepting the aircraft with 'must-haves', even if some other steps remain pending, which may take at least another year, it is learnt.
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