The CBI stated it had registered a grievance after the State Bank of India claimed a loss of ₹2,929.05 crore ensuing from alleged misappropriation by Reliance Communications and Anil Ambani. File.
| Photo Credit: PTI
The Bombay High Court on Friday (October 3, 2025) dismissed a petition filed by industrialist Anil Ambani difficult the State Bank of India’s (SBI) determination classifying his and Reliance Communications’ accounts as fraud.
A bench of Justices Revati Mohite Dere and Neela Gokhale stated there was no benefit within the plea. An in depth copy of the judgement was not obtainable instantly.
The SBI had final yr categorised the accounts as fraud, alleging misappropriation of funds by coming into into transactions that violated the phrases of loans prolonged by it.
Mr. Ambani moved the HC, arguing that the financial institution had not adopted the rules of pure justice as it didn’t grant him a listening to.
Certain paperwork, primarily based on which the classification orders have been handed, weren’t offered to him initially, and furnished solely after six months, the petition claimed.
The financial institution this yr lodged a grievance with the Central Bureau of Investigation (CBI), which searched premises linked to Reliance Communications and Ambani’s residence.
The CBI stated it had registered a grievance after the State Bank of India claimed a loss of ₹2,929.05 crore ensuing from alleged misappropriation by Reliance Communications and Anil Ambani.
Published – October 03, 2025 05:48 pm IST