New Delhi, April 16 -- The Supreme Court on Thursday dismissed the pleas of industrialist Anil Ambani challenging the Bombay High Court order that allowed the proceedings initiated by banks against him and Reliance Communications Ltd to classify their bank accounts as fraud to continue.

A bench of Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M Pancholi permitted Ambani to pursue his plea before the high court's single judge bench against the banks' show cause notices to declare the accounts as fraud.

The bench requested the single judge bench to expeditiously decide Ambani's plea against the show cause notices issued by three banks.

The apex court passed the order while hearing three separate pleas filed by Ambani wh...