HC backs SBI's fraud tag on Ambani, RCom loans

Business Oct 07, 2025

The Bombay High Court has supported State Bank of India's move to label Anil Ambani and Reliance Communications's loan accounts as "fraud."
On October 3, 2024, the court dismissed Ambani's challenge to SBI's June order, saying there was no legal issue or merit in his claims.

Court rejects Ambani's claims of unfair treatment

Ambani argued that he wasn't given a fair chance to defend himself since he didn't get a personal hearing or all the documents.
But the court clarified that RBI rules only require banks to accept written responses—not personal hearings—and noted Ambani was given adequate opportunity to reply in writing before SBI made its decision.
The ruling is a win for SBI and confirms banks can classify loans as fraudulent if proper steps are followed.