Bombay HC Dismisses Anil Ambani’s Plea Against SBI Classifying Reliance Communications Loan Account As ‘Fraudulent’
In a major setback to industrialist Anil Ambani, the Bombay High Court on Friday dismissed his plea challenging the State Bank of India’s (SBI) decision to classify his loan account as “fraudulent.” The account pertained to his firm, Reliance Communications (RCom), which is already under insolvency proceedings.