Today, On 16th April, The Supreme Court dismissed Anil Ambani’s plea against the fraud classification of his loan accounts under RBI’s 2024 Master Directions. The CJI remarked, “Hard earned money has been siphoned. Did you make good losses of banks and financial institutions?”
The Supreme Court of India ruled consumer forums cannot decide fraud or forgery disputes in banking transactions like unauthorized fixed deposit pledges. Justices PS Narasimha and Manoj Misra said such cases belong in civil or criminal courts.
