SBI moves Reliance Communications toward wilful defaulter listing

Loan classified NPACredit & Debt View source PDF Explain this filing

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AI summary

SBI rejected representations and will report Reliance Communications and Anil Ambani as wilful defaulters to credit information firms. Account was classified as non-performing on 26 August 2016; alleged dues are Rs 13,668 crore across 63 accounts. RCOM entered insolvency resolution in 2019; its approved plan awaits tribunal approval. Old facilities will be handled in the plan or liquidation. It expects no financial impact and is seeking legal advice.

Likely market impact

Negative for sentiment and credit standing. RCOM expects no current financial impact, but legal and resolution-plan risk remain.