SBI is looking to pull away the fraud tag from Anil Ambani's Reliance Infratel in a bid to push the resolution and sale to Jio forward.
Reports indicated that SBI rushed the affidavit to the courts as Jio moved the bankruptcy court to seek forensic audit reports that had marked the accounts of Infratel and RCom as “fraudulent”.
Three banks SBI, Union Bank of India and Indian Overseas Bank in October 2020 had backed a forensic audit that unearthed questionable transactions worth Rs 5,500 crore in the three Anil Ambani-led Reliance Group entities.
The banks however now feel recovery from the account will be hit if the sale of assets to Jio fails and is paving the way for a quicker acquisition.