HC quashes order staying proceedings against Anil Ambani to classify his bank accounts as fraud
Mumbai (PTI): In a setback to industrialist Anil Ambani, the Bombay High Court on Monday quashed a single bench interim order that stayed proceedings initiated against him and Reliance Communications Ltd to classify their bank accounts as fraud.
A division bench of Chief Justice Shree Chandrashekhar and Justice Gautam Ankhad allowed the appeals filed by three public sector banks and auditor firm BDO India LLP against the December 2025 interim order passed by a single bench of the HC.
The division bench, while quashing the single bench order, termed it "illegal and perverse".
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Ambani's counsels sought the HC to stay its order so that they could approach the Supreme Court, but the request was declined.
The banks last month challenged a December 2025 single-bench order granting interim relief to Ambani and his company. The order had cited violations of mandatory RBI rules and a classic case of banks "waking up from deep slumber" after years.
The single bench order stayed all present and future action by Indian Overseas Bank, IDBI Bank and Bank of Baroda, noting that the action was based on a legally flawed forensic audit and violated the Reserve Bank of India's (RBI) mandatory guidelines.
The three banks in their appeal said the forensic audit, which led to accounts being classified as "fraud", was legally valid and based on serious findings of fund siphoning and misutilisation.
This was recorded in the report submitted by the audit firm BDO LLP, they contended.
The banks, in their plea, also said Ambani had raised a technical challenge to the forensic audit before the single bench.
They sought the division bench to quash the single bench's interim order, claiming it was "perverse".
Ambani had challenged before the single bench show-cause notices issued by the Indian Overseas Bank, IDBI and Bank of Baroda, seeking to declare his and Reliance Communications' accounts as fraud accounts.
As an interim relief, he sought a stay of the notices and an injunction against any coercive action on the ground that BDO LLP was not qualified to conduct the forensic audit as its signatory was not a chartered accountant.
BDO LLP was an accounting consultant firm and not an audit firm, Ambani claimed.
The single bench had agreed with Ambani and stayed the action by the banks.
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Gujarat voted for development & good governance, says Pradhan as BJP sweeps local body polls
New Delhi (PTI): Union minister Dharmendra Pradhan on Tuesday said the people of Gujarat have reaffirmed their faith in the politics of development, stability and good governance as the BJP swept the local body elections by winning all 15 municipal corporations and 33 out of 34 district panchayats in the state.
Thanking the voters, Pradhan said the result is a testament to the people's unwavering trust in the BJP, the relentless hard work of the party workers and the strength of the organisation under the guidance of Prime Minister Narendra Modi and the leadership of Chief Minister Bhupendra Patel.
“The people of Gujarat have once again made it clear that their trust remains firmly aligned with the politics of development, stability and good governance. I express my heartfelt gratitude to the people of Gujarat for the support received by the BJP in the local body elections,” Pradhan posted on X.
“Under the guidance of the Hon'ble Prime Minister Narendra Modi and the leadership of Gujarat's Chief Minister Bhupendra Patel, this result is a remarkable testament to the people's unwavering trust, the relentless hard work of the Gujarat BJP workers, and the strength of the organisation,” he added.
Earlier, Prime Minister Narendra Modi thanked the people of Gujarat for what he termed a "sweeping mandate" in the local body polls, saying the bond between the state and the BJP has grown even stronger.
Modi said people have voted for the politics of good governance, and assured that the party would work harder to take Gujarat to new heights of progress.
Though final results for 250 taluka panchayats and 84 municipalities were awaited, data from the State Election Commission (SEC) showed that the ruling BJP won most of these local bodies while some were bagged by the Congress, AAP and Independents.
Polling was held on Sunday for 15 municipal corporations, 84 municipalities, 34 district panchayats and 260 taluka panchayats.
The BJP emerged a clear winner in the municipal corporations of Ahmedabad, Vadodara, Surat, Bhavnagar, Jamnagar and Rajkot, besides the newly created municipal corporations of Navsari, Gandhidham, Morbi, Vapi, Anand, Nadiad, Mehsana, Porbandar and Surendranagar.
