Mumbai, Oct. 4 -- The Bombay High Court has dismissed a writ petition filed by industrialist Anil Ambani against the State Bank of India's (SBI) decision to classify his loan accounts as "fraudulent".
Anil Ambani's plea was directed at SBI's June 2025 order tagging the loan accounts of Reliance Communications (RCom) and its former director Anil Ambani as "fraudulent". A bench comprising Justice Revati Mohite Dere and Justice Neela Gokhale ruled against Anil Ambani yesterday and held that SBI acted as per banking regulator Reserve Bank of India's (RBI) directions.
The bench rejected Ambani's contention that principles of natural justice were violated. He argued that SBI denied him a personal audience, failed to share documents relied upon ...