The accounts of Reliance Home Finance and Reliance Commercial Finance have been reported as fraud by the Karnataka Bank with the total loan due worth more than ₹160 crores to the lender.

The bank has stated to the Central Bank regarding the frauds in the credit facilities extended to 2 listed companies. Out of this, the major part of the due loan amounting to ₹138.41 crores is attributed to Reliance Commercial Finance, with whom Karnataka Bank has been dealing since 2014 onwards. On the other side, Reliance Home Finance has a loan worth ₹21.94 crore due to its name and…

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