BoB’s zonal office committee says it had considered submissions made by RCom and Mr Ambani but found 'no merit' in their arguments before concluding that the accounts qualified as fraud under the Reserve Bank of India’s (RBI) master directions on fraud risk management.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
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Is this the money which was used to repay 5000 cr debt of RInfra.. the credit of which was given to Jai Anmol Ambani.
Why can’t banks claim on promoter groups holdings in RInfra and RPower; and handover the management to professionals. Atleast there will be some recovery. Anil Ambani has 2 prime residential properties in Mumbai which can also be sold or taken over.. same way Yes Bank took control of Reliance Group HQ in Santa Cruz.
Putting Anil Ambani in jail along with his cronies Amitabh jhunjhunwala and Sateesh Seth should also include taking over their properties. Otherwise Anil Ambani will remain a Seth and banks will be holding the Jhunjhuna.