https://www.taxtmi.com/news?id=72465 Allegations of bank fraud concerning Reliance Communications involve misuse of credit facilities, discounted Letters of Credit and circuitous transactions through shell entities, causing loss to multiple banks and financial institutions. The CBI attributes key roles to senior RCOM functionaries handling finance, banking operations and fund utilisation, while the company states it has been under Corporate Insolvency Resolution Process since 2019 under the Insolvency and Bankruptcy Code. en-us Mon, 20 Apr 2026 22:16:03 +0530 Mon, 20 Apr 2026 22:16:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=72465 Allegations of bank fraud concerning Reliance Communications involve misuse of credit facilities, discounted Letters of Credit and circuitous transactions through shell entities, causing loss to multiple banks and financial institutions. The CBI attributes key roles to senior RCOM functionaries handling finance, banking operations and fund utilisation, while the company states it has been under Corporate Insolvency Resolution Process since 2019 under the Insolvency and Bankruptcy Code. News - Mon, 20 Apr 2026 22:16:03 +0530 https://www.taxtmi.com/news?id=72465