The accounts of three Anil Ambani-led Reliance Group entities have reportedly been flagged as fraudulent by three banks, including India’s largest lender, the State Bank of India (SBI). Reliance Communications, Reliance Infratel, and Reliance Telecom owe lenders Rs. 86,188 crore. This is ten times more than the debt garnered by former billionaires Vijay Mallya and Nirav Modi.

In the midst of Reliance Communications’ bankruptcy resolution process, three Indian banks — the State Bank of India (SBI), Union Bank of India (UBI) and the Indian Overseas Bank (IOB) — are classifying the company’s accounts and the accounts of its units as fraudulent.

Sources told that the three banks, which includes India’s largest lender, are looking to launch a deeper probe into the transactions from the account of three Anil Ambani-led Reliance Group entities — Reliance Communications, Reliance Infratel and Reliance Telecom.