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₹160 cr loan to Reliance Home Finance, Reliance Commercial declared fraud by bank
short by Pragya Swastik / on Sunday, 20 June, 2021
Karnataka Bank has declared accounts of Reliance Home Finance and Reliance Commercial Finance a fraud with loan outstandings of over ₹160 crore. The bank reported to RBI regarding frauds in the credit facilities extended to the two listed companies. An outstanding loan of ₹21.94-crore to Reliance Home Finance and a ₹138.41-crore loan to Reliance Commercial Finance was declared as fraud.