The Supreme Court on Thursday dismissed industrialist Anil Ambani’s pleas challenging the Bombay High Court’s order that allowed proceedings initiated by banks against him and Reliance Communications Ltd to continue. classify their bank accounts as fraud.
A bench of Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M Pancholi allowed Ambani to hear his plea before a single judge of the high court against the banks pointing to the declaration of accounts as fraud.
The court asked a single judge to expeditiously decide Ambani’s plea against the show cause notices issued by the three banks.
The apex court issued the order while hearing three separate pleas filed by Ambani challenging the February 23 order of the apex court bench.
A bench of the trial court set aside a single judge’s bench’s preliminary injunction that stayed the proceedings against him and Reliance Communications Ltd to classify their bank accounts as fraud.
The division bench allowed appeals filed by three public sector banks and audit firm BDO India LLP against the December 2025 interim order passed by the single bench.
The single-judge order stayed all current and future actions by Indian Overseas Bank, IDBI Bank and Bank of Baroda, saying the suit was based on a legally flawed forensic audit and violated Reserve Bank of India’s binding guidelines.
Ambani questioned before the case was announced the Indian overseas banks, IDBI and Bank of Baroda, which sought to declare their accounts and those of Reliance Communications as fraudulent accounts.
