The State Bank of India (SBI) has classified the loan account of Reliance Communications Ltd (RCOM), formerly directed by Anil Dhirajlal Ambani, as 'fraud'. SBI plans to report Ambani's name to the Reserve Bank of India (RBI) amid ongoing corporate insolvency resolution proceedings under the Insolvency and Bankruptcy Code (IBC). The classification follows allegations of diversion of funds by the company and Ambani to related parties. Reliance Communications has described the SBI order as ex-parte, and Ambani's legal team has requested SBI to withdraw the fraud classification, arguing it contradicts court rulings and RBI norms. The matter involves a substantial amount of public funds, reportedly around Rs 4.9 trillion. Despite the fraud tag on RCOM's loan account, related entities Reliance Infrastructure and Reliance Power stated that SBI's classification will not affect their business operations, financials, or stakeholders. No investigation by agencies such as the Central Bureau of Investigation (CBI) or Enforcement Directorate (ED) has been reported so far.