\"The alleged ‘fraud’ classification by certain banks is entirely unjustified and unwarranted, and the ...Delhi High Court<\/a> by an interim order has directed the same to be kept in abeyance for the time being, and the matter is now sub judice,\" the Reliance Group said in a statement Wednesday.
The comments come after lenders State Bank of India, Union Bank of India<\/a> and Indian Overseas Bank classified the accounts of the telco and its units — Reliance Telecom and Reliance Infratel — as fraudulent last week. The lenders are now looking to initiate a deeper probe, said one of the persons, ET reported in its December 28 edition.
The fraud allegations come a year after a forensic audit unearthed questionable transactions worth Rs 5,500 crore in the three Anil Ambani-led Reliance Group entities. The probe looked at transactions between May 2017 and March 2018.