Anil Ambani may move the Supreme Court in the RCom case. (Photo: NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

The Bombay High Court on Friday dismissed a writ petition filed by industrialist Anil Ambani challenging State Bank of India's decision to classify Reliance Communications Ltd.'s loan account as "fraud," reported Live Law .

SBI's June 13 order designated RCom's account as fraudulent and directed that Ambani, its erstwhile non-executive director, be reported to the Reserve Bank of India under fraud risk management guidelines. Aggrieved, Ambani approached the high court in July alleging violation of principles of natural justice, arguing that he was not granted a personal hearing and denied key documents.

"Such classification… has drastic civil co

See Full Page