US EditionBombay High Court Dismisses Anil Ambani’s Challenge to SBI’s Fraud Classification of His Loan Account
The Bombay High Court upheld SBI’s fraud classification citing fund diversion and breach of loan terms, with SBI reporting a loss of ₹2,929 crore, the CBI said.
- On Friday, October 3, 2025, the Bombay High Court dismissed Anil Ambani’s petition, with Justices Revati Mohite Dere and Neela Gokhale finding no merit and upholding SBI’s fraud classification.
- SBI reclassified the accounts on June 13, 2025, citing diversion of funds, breach of covenants, related-party transactions, and alleged misappropriation under Reserve Bank of India Master Directions .
- The CBI alleges a loss of Rs 2,929.05 crore and has searched premises linked to Reliance Communications and Ambani after SBI's complaint; SBI's exposure includes Rs 2,227.64 crore principal and a Rs 786.52 crore bank guarantee.
- The bench found no merit in Ambani’s procedural fairness claims and rejected his contention, upholding SBI’s reclassification despite earlier relief against Bank of Baroda this month.
- Following an RBI re‑run under the July 15, 2024 circular, courts saw the fraud classification enforced in June 2025; RCom remains in insolvency before the NCLT, Mumbai, with Ambani’s personal case pending.
12 Articles
12 Articles
High Court dismisses Anil Ambani's plea over SBI classifying loan account as fraud
SBI had classified the loan accounts of Reliance Communications (RCOM) and its promoter Anil Ambani as “fraud” on June 13, 2025. Anil Ambani’s plea challenging the decision was dismissed by the High Court.
High Court Rejects Anil Ambani's Plea Against SBI's Fraud Tag For Accounts
The Bombay High Court on Friday dismissed a petition filed by industrialist Anil Ambani challenging the State Bank of India's (SBI) decision classifying his and Reliance Communications' accounts as fraud.
Times of India
The Economic TimesBombay HC dismisses Anil Ambani’s plea against SBI classifying his loan account as fraud
The Bombay High Court dismissed Anil Ambani's plea challenging SBI's classification of his and Reliance Communications' loan accounts as "fraud" on June 13, 2025. Ambani argued a lack of natural justice, but the court upheld the re-classification, which followed a previous reversal and a Supreme Court mandate for borrower representation. SBI has significant credit exposure to RCom.
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