Shares of Reliance Power and Reliance Infrastructure dropped on Thursday after the State Bank of India (SBI) declared the loan account of Reliance Communications (RCom) as fraudulent and named former director Anil Ambani in the case according to the Times of India. Reliance Power fell 4.8% to Rs 64.75 while Reliance Infrastructure hit the 5% lower circuit at Rs 377.45 on the BSE. Anil Ambani’s Response To SBI Reliance Infrastructure and Reliance Power on Thursday said that State Bank of Indias move to classify the loan account of Reliance Communications as fraud has no impact on their business operations and financial performance. The development also has no impact on their shareholders employees or any other stakeholders the two Reliance group companies stated in separate exchange filings. The companies said they are separate and independent listed entities with no business or financial linkage to Reliance Communications. Further Anil D. Ambani is not on the Board of Reliance Infrastructure and Reliance Power. Accordingly any action taken in relation to Reliance Communications has no bearing or impact on the governance management or operations RInfra and RPower said. SBI On Reliance Communications Public lender State Bank of India has decided to classify the loan account of beleaguered telecom firm Reliance Communications as fraud and to report the name of its erstwhile director -- Anil Ambani to the Reserve Bank of India (RBI) an exchange filing on Wednesday. According to the filing Reliance Communications and its subsidiaries received a total loan of Rs 31580 crore from banks. The Fraud Identification Committee of the bank has found deviations in utilisation of the loans. The letter marked to Reliance Communications and its erstwhile director Anil Ambani stated that SBI has decided to report the loan account of the company as fraud and to report the name of Anil Ambani to the RBI as per the extant RBI guidelines the filing said.  (With Inputs From PTI)