Announced Tue, 8 Sept · 12:49 IST
Canara Bank calls Reliance Telecom and former Reliance Communications chief wilful defaulters
RCOM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+9.4%1-day move
₹0.85
prior close
₹0.89
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.0+0.0+0.0+0.0+9.4+14.1+18.8+24.7+18.8+8.2————
Up moveDown movePending
AI summary
Canara Bank's review committee on August 31, 2026 classified Reliance Telecom, a Reliance Communications subsidiary, and Anil Ambani, its former chairman, as wilful defaulters. The order cites fund diversion involving Rs 31,580 crore received by three Reliance firms and Netizen transactions. It says the account was declared fraud and reported to the central bank. Both companies are under insolvency resolution, with plans awaiting tribunal approval.
Likely market impact
This may hurt sentiment and funding access. The loan predates insolvency, limiting direct financial impact while tribunal approval is pending.