Supreme Court To Hear Anil Ambani's Plea Against 'Fraud' Tag Over Loans Availed by RCom, ADAG Entities Next Week
Kirit Singhania
1 April 2026 1:03 PM IST
The Supreme Court on Wednesday agreed to hear next week a special leave petition filed by Anil Ambani challenging his classification as “fraud” by banks in connection with alleged irregularities of Rs. 31,580 crores involving Reliance Communications and other ADAG entities.
Ambani's petition challenges a Division Bench order of the Bombay High Court, which set aside an earlier interim relief granted to Ambani and permitted Bank of Baroda, IDBI Bank, and Indian Overseas Bank to continue fraud-classification proceedings based on a forensic audit report prepared by BDO India LLP.
A Bench of Chief Justice Surya Kant, Justices Joymalya Bagchi, and Vipul M. Pancholi agreed to list the matter next week after counsel appearing for Anil Ambani sought an adjournment.
The case arises from a forensic audit report dated October 15, 2020, involving alleged irregularities of about ₹31,580 crore. Based on the report, banks issued show-cause notices in 2024 and classified Ambani as “fraud” on September 2, 2025. Ambani has challenged the action, alleging that the audit was invalid, conducted by an ineligible auditor, and relied upon in violation of principles of natural justice.
On December 24, 2025, a single judge of the Bombay High Court had granted interim relief, holding prima facie that the audit was not in line with RBI directions and that such classification could have serious civil consequences.
However, on February 23, 2026 a Division Bench set aside the relief, observing that the single judge had gone beyond the pleadings at the interim stage and that the challenge was belated.