Supreme Court Dismisses Anil Ambani’s Plea In Bank Fraud Classification Case
New Delhi: The Supreme Court on Thursday, April 16, rejected the petition filed by businessman and industrialist Anil Ambani seeking to stay the classification of his loan accounts as “fraudulent” by the Bank of Baroda, Indian Overseas Bank Ltd and the IDBI Bank Ltd.
The court did not give relief, observing that it found no ground to interfere with the judgment of the Bombay High Court Division Bench, which vacated the stay originally granted by the Single Bench.
Read Also: ED Attaches Anil Ambani’s Rs 3,716 Crore Mumbai House In Money Laundering Case: Report
A bench comprising Chief Justice of India Surya Kant, Justice Joymalya Bagchi and Justice Vipul Pancholi delivered the judgment while hearing the businessman’s plea. The court stated the observations made by the High Court will have no bearing on the final adjudication of the suit filed by Ambani against the Banks over the accounts classification.
Ambani’s counsel submitted that his client would like to settle the matter with the banks, and requested the Bench to record his statement. However, the counsel for the consortium of banks, opposed the recording of Anil Ambani saying that “it will have other ramifications”.
Read Also: Reliance Industries Chairman Anil Ambani Is Under Huge Debt Of Rs, …
