SC rejects pleas of Anil Ambani challenging Bombay HC order on declaration of accounts as fraud
New Delhi (PTI): Observing that crores of public monies had been siphoned off, the Supreme Court on Thursday dismissed industrialist Anil Ambani's three separate pleas, challenging the Bombay High Court order that allowed the proceedings, initiated by banks against him and Reliance Communications Ltd to classify their bank accounts as fraud, to continue.
A bench of Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M Pancholi permitted Ambani to pursue his plea before the high court's single judge bench against the banks' show cause notices to declare the accounts as fraud.
"Hard-earned public money to the tune of thousands of crores has been siphoned. Did you make good losses to banks and financial institutions," the bench said.
Ambani and the firm were represented by senior advocates Kapil Sibal and Shyam Divan, who said the order would lead to the "civil death" of their clients.
Refusing to interfere with the February 23 order of the Bombay High Court's division bench, the SC said, "We see no ground to interfere with the judgment of the High Court (division bench). It is clarified that the observations of the Division Bench shall have no bearing in the pending suit. The (single judge bench) High Court is requested to expedite the disposal of the suit (filed by Ambani against the show cause notices issued by banks on move to declare the accounts as fraud)."
The bench requested the single judge bench to expeditiously decide Ambani's plea against the show cause notices issued by three banks.
The apex court passed the order while hearing three separate pleas filed by Ambani who had challenged a February 23 order of a division bench of the high court.
The division bench had quashed a single judge bench interim order that stayed proceedings initiated against him and Reliance Communications Ltd to classify their bank accounts as fraud.
The division bench 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.
The single judge bench order had 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 mandatory guidelines.
Ambani challenged the show cause notices issued by Indian Overseas Bank, IDBI and Bank of Baroda before the single bench, seeking to declare his and Reliance Communications' accounts as fraudulent.
At the outset, Sibal said there was a question of law that must be decided. The bench said, "the matter pertains to siphoning of thousands of crores of public money," and any intervention at this stage would prejudice the ongoing investigation by probe agencies.
"Please go and raise all these issues before the high court … show cause notices have been issued. You have your own remedy against them...institutions have been duped crores of rupees," the CJI said, adding, "it's a case of siphoning off… We can't really express any opinion as we don't want to prejudice."
Sibal submitted that Ambani had conveyed his willingness to amicably resolve and settle all pending matters with the banks.
Earlier, the high court's division bench quashed the single bench order and termed it "illegal and perverse."
The banks had challenged a December 2025 single-bench order granting interim relief to Ambani and his company.
The order cited violations of mandatory RBI rules and a classic case of banks "waking up from deep slumber" after years.
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.
Ambani, as an interim relief, 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 is an accounting consultant firm and not an audit firm, Ambani claimed. The single bench agreed with Ambani and stayed the action by the banks.
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Visually impaired student from J-K, Zainab Bilal scores 95% in CBSE class 10 exams
Zainab among first to write CBSE exam on laptop without scribe
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Srinagar (PTI): A visually impaired student in Srinagar has scripted an inspiring story by securing 95 per cent marks in the Class 10 board examination conducted by the Central Board of School Education, the results of which were declared on Wednesday.
Zainab Bilal, who aspires to study computer applications, scored 475 out of 500, with a perfect 100 per cent in computer science.
“Since my childhood, I have wanted to get into the information technology sector. I intend to do my bachelor’s degree in computer applications,” said Zainab, who became one of the first visually impaired students to write the CBSE examination using a laptop, without the assistance of a scribe.
VIDEO | Srinagar: Meet Zainab Bilal, a visually impaired teenager who has scored 95 per cent in the CBSE Class 10 board examinations, redefining resilience.
— Press Trust of India (@PTI_News) April 16, 2026
A student of the Learning Resource Centre at Delhi Public School, she thanked her teachers for helping her overcome… pic.twitter.com/V9LPr9VI2z
The 16-year-old, who studied at the Learning Resource Centre of Delhi Public School in Srinagar, thanked the institution and her teachers for their support in achieving her goals.
“I am thankful to Vijay Dhar (owner of the school) and my teachers for their support. I do not have words to thank my parents, who have been the biggest support of my life,” she said.
In a message to parents of physically challenged children, Zainab said they should not give up on their kids.
“If I can do it, anyone can. They just need your support,” she said.
Zainab has been outstanding in extracurricular activities as well. She interviewed Omar Abdullah and Bollywood superstar Amir Khan when she was just 12. They were aired on Radio DPS, a radio station operated by the students of the school.
