Business Tit-Bits: Fraud, Cronies and Anil Ambani

Business Tit-Bits: Fraud, Cronies and Anil Ambani

According to the report by the Business Insider, problems for fallen billionaire Anil Ambani do not seem to be ending soon as in the middle of Reliance Communications’ bankruptcy resolution process, three Indian banks are classifying the company’s accounts and the accounts of its units as fraudulent. Anil Ambani, who had told a UK court that his “net worth was zero” and he was bankrupt, now finds himself under the scanner of the State Bank of India (SBI), Union Bank of India (UBI) and the Indian Overseas Bank (IOB), who are not willing to buy his story. In this episode of the Business Tit-Bits, our Business Editor Mr Akhilesh Bhargava shares his take.

#AnilAmbani #SBI #VijayMallya


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