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The state-run bank has cited diversion of funds by the company and its former director Anil Ambani to related parties.

As India prepares to throw open its nuclear sector to private players, the conglomerate is taking position. But the technology, economics and risks look far tougher than anything it has scaled so far.
India’s largest lender is going out of its way to grow its mutual fund business at the cost of shareholders, raising questions of corporate governance.
Multiple institutions have failed in their duty to pursue the litany of cases against Ambani and his companies. This has facilitated a comeback that should never have been