The Supreme Court has refused to grant relief to Anil Ambani on his plea challenging a Bombay High Court order that allowed banks to proceed with classifying his loan account as fraud.
The matter pertains to a judgement by the Bombay High Court that allowed two banks to proceed with classifying Anil Ambani’s loan account as fraud. It had set aside the December 2025 order that had granted interim relief to Anil Ambani.
A bench led by the Chief Justice of India (CJI) Surya Kant observed that the Division Bench order of the Bombay High Court shall not come in the way of a suit which is pending to be adjudicated and requested the High Court to dispose of the case expeditiously. “In terms of the Single Bench order, the Division Bench order shall not touch upon the merits of the suit, which remains pending. We request Bombay High Court that the civil suit be expedited for disposal,” the court noted.
“If the petitioner has any other remedy in law, he shall be at liberty to avail the same. On the petitioner’s submission that he wishes to settle with the banks, we do not express any opinion,” it added.
The dark clouds remained mounted on Anil Ambani as two of his close associates were recently arrested by the Directorate of Enforcement (ED).
On Wednesday, the ED arrested Amitabh Jhunjhunwala, a former senior executive of the Anil Dhirubhai Ambani group (ADAG), in connection with an ongoing money laundering investigation linked to an alleged banking fraud involving group entities such as Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL).
The ED also arrested Amit Bapna, a former chief financial officer (CFO) and chief operating officer (COO) of Reliance Capital Ltd, who served in the role between 2008 and 2020.
Later, the company reacted over the matter and in a statement said, “Amitabh Jhunjhunwala left the Group in September 2019, (nearly seven years ago). He had no association with the Group thereafter, including Reliance Infrastructure Limited and Reliance Power Limited. During his association, he served as the Group Managing Director of the Reliance Group, as well as Vice Chairman and Director of Reliance Capital Limited.”
“Amit Bapna left Reliance Group in December 2019, (nearly seven years ago). He had no association with the Group thereafter, including Reliance Infrastructure Limited and Reliance Power Limited. During his association, he served as the Chief Financial Officer of Reliance Capital Limited, as well as Director of Reliance Home Finance Limited.”