Huge jolt to Anil Ambani:Bombay HC dismisses troubled businessman’s plea to squash SBI’s fraud classification of his RCom’s accounts

The Bombay High Court on Friday, October 03, 2025, dismissed a petition filed by the troubled businessman Anil Ambani challenging the State Bank of India’s (SBI) decision to classify his and Reliance Communications accounts as fraud. Why the court dismissed Ambani’s plea? A bench of Justices Revati Mohite Dere and Neela Gokhale said there was no merit in the plea. What is the entire case all about? The case is related to loans of about ₹2,929 crore given by SBI to Reliance Group companies associated with Anil Ambani. The company did not repay this loan. It was considered fraud because the company either did not properly utilize the loan money or did not follow the rules. What Ambani’s lawyer said in the petition moved? Ambani had moved the HC and had argued that the bank had not followed the due procedures. His side mentioned that certain documents, based on which the classification orders were passed, were not provided to him initially and furnished only after six months. CBI had earlier conducted search operations The bank had this year lodged a complaint with the Central Bureau of Investigation (CBI), which searched premises linked to Reliance Communications and Ambani’s residence. What the CBI had said? The CBI said it had registered a complaint after the SBI claimed a loss of ₹2,929.05 crore resulting from alleged misappropriation by Reliance Communications and Anil Ambani. Anil Ambani’s entire journey from riches to rags