Satheesan alleges ₹101 cr loss in Kerala financial body's investment in Reliance
Hindustan Times Bengaluru|January 03, 2025
Leader of the opposition in the Kerala assembly VD Satheesan on Thursday alleged corruption of ₹101 crore in the investment made by the Kerala Financial Corporation (KFC), a state-owned undertaking, in the now-liquidated Reliance Commercial Finance Limited (RCFL) owned by Anil Ambani in 2018-19 when the latter was in bad fiscal health.
Vishnu Varma

KOCHI:

The Congress leader claimed that KFC, founded with the aim of supporting small and medium-scale enterprises with loans, invested ₹60.80 crore in RCFL in the form of non-convertible debentures in April 2018 on the recommendation of its Asset Liability Management Committee (ALCO). The investment, he underlined, was made at a time when most of Ambani's firms were suffering losses and major financial strain.

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