File photo Anil Ambani, Chairman of Reliance Communications. (Source: PTI) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Reliance Communications Ltd.'s loan account has been declared as 'fraud' by Bank of Maharashtra, according to a regulatory filing on Saturday.

The filing also informed that the company is undergoing a corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016.

"A resolution plan has been approved by the committee of creditors of the Company in accordance with the Code and is presently awaiting approval of the Hon’ble National Company Law Tribunal, Mumbai Bench", the filing stated.

Further, elaborating on the possible impact of the CIRP on the entity, the filing underlined that Reliance Communications is protected from the

See Full Page