Central Bank classifies RCOM loan account as fraud

Fraud ConfirmedNclt Insolvency AdmittedRegulatory & Legal View source PDF Explain this filing

RCOM · price

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Price reactionminutes from the announcement price · days from the prior close

-3.5%Reaction day

₹1.42

prior close

₹1.40

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+0.2%-3.7% vs market

On the reaction day the stock moved 3.7 pts less than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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10m

-2.1

15m

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30m

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Sessions after the filingfrom the prior close

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Reaction day

-3.5+0.2-3.7

Next day

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AI summary

Central Bank of India classified RCOM's loan account as fraud from September 29, 2025, involving Rs 357.68 crore out of Rs 400 crore of credit limits. A forensic audit alleged diverted funds, payments to connected parties and possible fictitious assets. The bank reported the fraud to the RBI on September 30, 2025. The loans predate RCOM's 2019 insolvency process. Its resolution plan has creditor approval and awaits NCLT approval.

Likely market impact

Likely negative for the stock. Fraud may hurt lender recoveries and affect the resolution plan, while insolvency protection limits enforcement.