Banks Appeal Bombay HC Stay on Fraud Proceedings Against Anil Ambani's Companies
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Banks Appeal Bombay HC Stay on Fraud Proceedings Against Anil Ambani's Companies

Three public sector banks and auditor BDO India LLP have appealed to the Bombay High Court, challenging a single-judge order that stayed proceedings to classify Anil Ambani's Reliance Communications accounts as fraudulent. The banks argue the forensic audit report, citing fund siphoning, is valid, while the single bench had questioned its compliance with RBI guidelines and auditor qualifications. A division bench is now hearing the appeals, with the banks seeking to quash the interim relief granted to Ambani.

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