Banks can now proceed to declare Anil Ambani a fraud after the Bombay High Court on Monday withdrew the interim relief granted to him. The court had earlier stayed the process initiated by banks in connection with an alleged ₹40,000-crore fraud case involving the Reliance Group chairman. That relief, granted in December 2025, has now been vacated, allowing banks to move forward under applicable regulations. Banks cite rule violations; court lifts stay on fraud declaration against Anil Ambani State Bank of India (SBI) classified accounts linked to Anil Ambani as fraud based on a forensic audit report, a move he challenged, alleging banks failed to follow principles laid down by the Supreme Court. In December 2025, the Bombay High Court stayed the fraud declaration. The order was later challenged in January 2026 by Bank of Baroda, Indian Overseas Bank, and IDBI Bank, which argued they should be allowed to act on the forensic audit findings. With the stay now lifted, banks can proceed with further action in accordance with law. Earlier, Ambani assured the court he would not leave the country without permission and said he would fully cooperate with investigations by the Enforcement Directorate and the Central Bureau of Investigation into Reliance Group (ADAG) companies. Supreme Court orders SIT, flags delay in ₹40,000-crore probe Earlier this month, a bench of the Supreme Court of India led by Justice Surya Kant expressed concern over delays in the investigation into the alleged ₹40,000-crore scam. Questioning the pace of the probe, the court sought explanations from the Enforcement Directorate and the Central Bureau of Investigation. It also directed the ED to constitute a Special Investigation Team (SIT) to expedite the investigation. Post navigation Trump says SC’s verdict approves many tariffs as legal::US Prez adds ruling accidentally gives him more powers he can do ‘terrible’ things to foreign countries
