Industrialist Anil Ambani appeared before the CBI for questioning in a major loan fraud case linked to SBI and Reliance Communications. The probe focuses on alleged diversion and misuse of bank funds as scrutiny intensifies.
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.
