Anil Ambani loan fraud plea: Bombay HC dismisses petition; SBI action stands
Bombay High Court on Friday dismissed Anil Ambani's petition challenging SBI's decision to classify Reliance Communications' loan account as "fraud." Ambani argued natural justice was flouted and SBI's action was arbitrary, denying him a personal hearing. The court found no merit in his plea, allowing Ambani to potentially approach the Supreme Court.
Bombay High Court on Friday dismissed Anil Ambani's petition challenging SBI's decision to classify Reliance Communications' loan account as "fraud." Ambani argued natural justice was flouted and SBI's action was arbitrary, denying him a personal hearing. The court found no merit in his plea, allowing Ambani to potentially approach the Supreme Court.
