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SBI fraud case: Bombay HC rejects Anil Ambani’s plea
Financial Express Hyderabad
|October 04, 2025
IN A SETBACK to industrialist Anil Ambani,the Bombay High Court Friday dismissed his plea challenging the State Bank of India (SBI) order that classified his account as fraudulent.
The account was related to his firm, Reliance Communications, which is under insolvency.
Adivision bench of Justices Revati Mohite Dere and Neela K Gokhale rejected Ambani’s plea and observed that there was no merit in the same.
SBI issued the impugned order in June this year, following a Reserve Bank of India (RBI) master circular that allowed banks to classify any accountas fraudulent and provided guidelines for the process. This decision by the RBlon fraud riskmanagement in banks was undertaken under the Reserve Bank of India (Frauds Classification and Reporting by Commercial Banks and Select FIs) Directions, 2016.
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