Anil Ambani takes his fight over 'fraud' label to Supreme Court

Business Dec 01, 2025

Anil Ambani is challenging the Bombay High Court's decision that let State Bank of India (SBI) call his and Reliance Communications's accounts "fraudulent."
The court sided with SBI on October 3, after the bank alleged misappropriation of funds by entering into transactions that violated the terms of the loans extended by it.
Now, Ambani wants the Supreme Court to overturn that ruling—but his case hasn't been scheduled yet.

What sparked the legal drama?

Ambani says SBI broke basic fairness by not giving him a chance to explain himself and keeping key documents from him for six months.
After SBI's complaint, the CBI raided both Reliance Communications's offices and Ambani's home, investigating claims of a ₹2,929 crore loss linked to alleged fund misuse.