The Bombay High Court has upheld the State Bank of India’s (SBI) order classifying the loan accounts of industrialist Anil Ambani and Reliance Communications as fraud, stating that the bank’s action was a reasoned decision without any legal flaw.

A bench comprising Justices Revati Mohite Dere and Neela Gokhale dismissed Ambani’s petition on October 3, which had challenged the SBI order dated June 13, 2025. The detailed judgment, made available on Tuesday, said there was no merit in Ambani’s plea as there was no “infirmity” in the bank’s decision.

No Right to Personal Hearing, Says High Court

The court rejected Ambani’s argument that the SBI’s order should be declared null and void because he was not granted a personal hearing or provided with relevant documents. The judges clarified

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