No relief for Anil Ambani as SC upholds 'fraud' tag
What's the story
The Supreme Court of India has rejected a plea by Anil Ambani, challenging the classification of his loan accounts as "fraud" by a consortium of banks. The decision was announced on Thursday by a bench led by Chief Justice Surya Kant, along with Justices Joymalya Bagchi and Vipul Pancholi. The apex court upheld an earlier order from the Bombay High Court Division Bench in this matter.
Court proceedings
Supreme Court's clarification on pending civil suit
The Bombay High Court had previously overturned a December 2025 interim order by a single judge, which had temporarily favored Ambani against the banks' decision. However, the Supreme Court clarified that these observations wouldn't affect Ambani's pending civil suit in the High Court.
Case management
SC requests for speedy disposal of civil suit
The Supreme Court also requested the Bombay High Court to expedite the disposal of the civil suit. "We request Bombay High Court that the civil suit be expedited for disposal," the Supreme Court said. "If the petitioner (Anil Ambani) has any other remedy in law, he shall be at liberty to avail the same."