State Bank of India moves to remove Reliance Infratel’s fraud tag

State Bank of India NSE -0.72 % (SBI) has moved to withdraw allegations of fraud against Reliance Infratel, the telecom tower unit of Reliance Communications NSE 4.55 % (RCom), petitioning the National Company Law Tribunal (NCLT) to this end through an affidavit.

The move comes days after Reliance Jio Infocomm (Jio), the designated buyer of Infratel’s assets, had moved the bankruptcy court to seek forensic audit reports that had marked the accounts of Infratel and RCom as “fraudulent”.