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.
The Delhi High Court ruled that banks failed to prove intentional misuse of borrowed funds by Ratul Puri and Nita Puri, striking down their wilful defaulter status. This decision highlights the need for solid evidence before labeling borrowers, protecting them from serious financial and reputational damage.