Bombay High Court Halts Banks' Fraud Action Against Anil Ambani, Citing RBI Norm Violations
20 hours agoBusiness
46LENS
6 SourcesMumbai, India
TBNthebalanced.news
Bombay High Court Halts Banks' Fraud Action Against Anil Ambani, Citing RBI Norm Violations

The Bombay High Court has temporarily halted public sector banks from taking further action on fraud-related show-cause notices issued to Reliance Group chairman Anil Ambani and his companies. The court cited that the notices were based on a forensic audit report whose validity and compliance with RBI Master Directions Ambani has challenged. Justice Milind Jadhav observed that proceeding would cause "grave and irreparable harm" and could lead to "civil death without trial," granting interim relief until further instructions.

Political Bias
23%48%29%
Sentiment
45%