Amitabh Jhunjhunwala’s arrest stems from an FIR filed against Reliance Communications and its former MD Anil Ambani on the complaint of SBI over loss of Rs 2,929.05 crore.
New Delhi: The Supreme Court Thursday refused to interfere with the Bombay High Court’s judgment classifying loan accounts of Reliance Communications Group companies as...
Fresh CBI FIR was based on complaint by Bank of Baroda alleging RCOM and Anil Ambani caused the bank a loss of around Rs 2,223 crore between 2013 and 2017.
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.
‘Security situation demands capabilities. The hum of machinery must become a roar,’ NATO chief Mark Rutte said as he announced 5 new military contracts. Drones and ISR take the lead.
The Congress party’s abandonment of nationalism is the most intriguing aspect of its post-2014 politics. The real Congress was never a party of bleeding heart pacifists.
COMMENTS