SC refuses to entertain Anil Ambani's plea on 'fraud' tag
New Delhi, April 17 -- The Supreme Court on Thursday refused to entertain businessman Anil Ambani's challenge to the classification of loan accounts of Reliance Communications group companies as "fraud", underscoring serious allegations of diversion of "thousands of crores" of public money and directing him to pursue remedies before the civil court where a related suit is already pending.
Ambani also informed the court that he was willing to explore a settlement with the banks, a submission that the court recorded, clarifying that it has no opinion on the proposal.
A bench comprising Chief Justice of India Surya Kant and justices Joymalya Bagchi and Vipul M Pancholi, said it was not inclined to intervene at this stage, particularly when the main dispute was yet to be finally adjudicated. "It is a case of siphoning of money.we do not want to express any opinion at this stage. You have legal avenues available," court observed. htc...
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