Anil Ambani's lawyer terms SBI action unfair as ED may quiz him again

Industrialist Anil Ambani's lawyer has stated that State Bank of India's (SBI) action against Reliance Communications Limited (RCOM) CMD Anil Ambani did not follow principles of natural justice as laid down by the Supreme Court.

- STATESMAN NEWS SERVICE

"SBI's ex-parte action against Ambani is in violation of the principles laid down by the top court. SBI must reconsider its actions in this matter, as it has already withdrawn show-cause notices issued against five other non-executive directors," Anil Ambani's lawyer said. "SBI's order was passed ex-parte, without giving Anil Dhirubhai Ambani a chance to present his case. This denial of a fair hearing clearly shows that the principles of natural justice as laid down by the Supreme Court were not followed. Such one-sided decisions not only weaken confidence in the bank's credibility but also set a troubling precedent for how financial institutions treat stakeholders, especially when the reputational and financial impact is severe," the lawyer said.