The Delhi High Court questioned why Union Bank issued a fraud-related show cause notice to Jai Anmol Ambani after Reliance Home Finance’s resolution plan was already approved by lenders and the Supreme Court. While refusing to stay the proceedings, the Court directed the Bank to hear Ambani and pass a reasoned order, subject to the High Court’s final decision.
Reliance Group Chairman Anil Ambani has withdrawn his defamation suit against Cobrapost, The Economic Times and others, with liberty to refile, after his counsel informed the Delhi court that he had received instructions to withdraw from the plaintiff himself.
The Bombay High Court has stayed all coercive action by Bank of Baroda, IDBI Bank and Indian Overseas Bank against Anil Ambani. The Court held that the forensic audit relied upon was not signed by a qualified chartered accountant and cannot be the basis for fraud action.
Anil Ambani has approached the Supreme Court challenging the Bombay High Court’s order that upheld SBI’s decision to label RCom and its promoter as “fraud.” The appeal questions SBI’s process and Ambani’s liability as a “person in control” of the company.
A PIL filed by former government secretary EAS Sarma urges the Supreme Court to monitor a full investigation into alleged Rs 31,580 crore bank fraud by RCOM and Anil Ambani. The plea alleges large-scale fund diversion, fake accounts, shell companies and institutional complicity.
Anil Ambani has filed a defamation case in a Delhi court against Cobrapost and The Economic Times for reports alleging a Rs 41,000 crore fraud by his Reliance Group. The case will be heard next on November 17.
The CBI claims Yes Bank lost more than Rs 2,700 crore after Rana Kapoor invested heavily in Anil Ambani-led companies. The charge sheet accuses both of criminal conspiracy, cheating, and corruption.
The Bombay High Court dismissed Anil Ambani’s plea challenging SBI’s decision to classify his loan account as fraudulent. The Court upheld SBI’s action, confirming it followed RBI guidelines.
Canara Bank informed the Bombay High Court it has revoked its order declaring Anil Ambani’s loan account as “fraudulent.” The court closed the case, stating RBI must be informed.
Bombay High Court slammed Anil Ambani for creating “artificial urgency” in his tax petition. He was fined Rs 25,000, which must be paid to Tata Memorial Hospital.
