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Reliance Power on Friday said that action taken by Bank of Baroda against Reliance Communications has no impact on its business operations and financial performance. After State Bank of India and Bank of India, another lender, Bank of Baroda, has classified the loan account of insolvent Reliance Communications as fraudulent and named its former director, tycoon Anil Ambani, citing alleged misutilisation of loans granted more than a decade back. In an exchange filing, Reliance Power said it is a separate and independent listed entity, with no business or financial linkage to Reliance Communications. "The recent action by Bank of Baroda to classify the loan account of Reliance Communications and Anil D Ambani as fraud has no impact on the business operations, financial performance, shareholders, employees, or any other stakeholders of Reliance Power," it said. Reliance Power said the disclosures and records available in the public domain indicate that the aforesaid classification by
State Bank of India has classified Reliance Communications along with promoter director Anil D Ambani as 'fraud' and is also in the process of lodging complaint with CBI, Parliament was informed on Monday. The entities were classified as fraud on June 13, 2025 in accordance with the RBI's Master Directions on Fraud Risk Management and Bank's Board-approved Policy on Classification, Reporting & Management of Frauds, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Lok Sabha. "On June 24, 2025, the bank reported classification of fraud to RBI, and is also in the process of lodging complaint with CBI," he said. Further, on July 1, 2025, as part of disclosure compliance, Resolution Professional of RCom informed the Bombay Stock Exchange regarding fraud classification by the bank. The credit exposure of SBI in RCom includes, fund-based principal outstanding amount of Rs 2,227.64 crore along with the accrued interest and expenses with effect from August 26, .