Big blow to Anil Ambani: Supreme Court rejected the petitions, challenged the High Court order

New Delhi, 16 April. The Supreme Court on Thursday rejected industrialist Anil Ambani’s petitions challenging the Bombay High Court order. The Bombay High Court had allowed the proceedings initiated by three banks to declare his and Reliance Communications Ltd’s accounts as “fake” to continue.

A bench of Chief Justice Surya Kant, Justice Joymalya Bagchi and Justice Vipul M. Pancholi also allowed Ambani to continue his plea before a single bench of the high court against the banks’ show cause notice. The bench requested the single bench to expeditiously decide on Ambani’s plea against the show cause notice issued by these banks.

The Supreme Court gave this order during the hearing on three separate petitions filed by Ambani, in which he had challenged the February 23 order of the division bench of the High Court. The division bench had set aside the interim order of the single bench which had stayed the proceedings against him and Reliance Communications Limited for declaring the accounts as “fake”.

Along with this, the division bench had accepted the appeals filed by three public sector banks and audit company BDO India LLP against the interim order of the single bench in December 2025. The single bench order had stayed all present and future actions being taken by Indian Overseas Bank, IDBI Bank and Bank of Baroda.

The court had said that this action is based on a legally flawed ‘forensic audit’ and violates the mandatory guidelines of the Reserve Bank of India. Ambani had challenged the show cause notices issued by Indian Overseas Bank, IDBI Bank and Bank of Baroda seeking declaration of his and Reliance Communications accounts as “fake” accounts before the single bench.