Anil Ambani Withdraws Plea from HC, To Appear ‘Under Protest’ Before IDBI Bank in Rs750

Industrialist Anil Ambani has withdrawn his petition before the Bombay High Court challenging the ongoing fraud proceedings initiated by IDBI Bank in relation to a Rs750-crore loan granted to the now-insolvent Reliance Communications Ltd (RCom). His decision to withdraw the petition came after the Court refused to grant any interim protection, paving the way for Mr Ambani to appear before the Bank’s fraud committee later this week. The petition, filed through advocates Ankit Lohia, Ameet Naik, and Abhishek Kale, sought to restrain IDBI Bank from conducting a personal hearing scheduled for 30th October under the Reserve Bank of India’s master directions on fraud risk management. Mr Ambani argued that the Bank was proceeding without providing him access to all the documents and evidenc