Reliance Power, Reliance Infra, Reliance Communications shares decline up to 5% after BoI flags loan as fraud
Shares of Reliance Communications (RCom), Reliance Infrastructure, and Reliance Power hit their 5% lower circuit on Monday after PSU lender Bank of India classified their loan accounts, along with those of directors, including Anil Ambani, as fraud.
The action follows a forensic audit conducted by BDO India for the period April 2013 to March 2017, which flagged diversion and misappropriation of funds.
