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<p data-start="100" data-end="325"><span style="font-family: georgia, palatino, serif; font-size: 12pt;">Industrialist Anil Ambani has withdrawn his petition from the Bombay High Court challenging a show-cause notice issued by IDBI Bank, after the court indicated it was not inclined to grant any interim relief.</span></p>
<p data-start="327" data-end="623"><span style="font-family: georgia, palatino, serif; font-size: 12pt;">The matter was heard on October 28 by Justice Sandesh Patil during the vacation sitting. Ambani had requested the court to halt IDBI Bank&rsquo;s personal hearing, which was scheduled for October 30, until he was provided with all relevant documents and a fair opportunity to respond.</span></p>
<p data-start="625" data-end="861"><span style="font-family: georgia, palatino, serif; font-size: 12pt;">After hearing both sides, the court made it clear that it would not pass an ad-interim order. Following this, Ambani&rsquo;s legal team chose to withdraw the plea, stating that he would still appear before IDBI Bank &ldquo;under protest.&rdquo;</span></p>
<p data-start="863" data-end="1216"><span style="font-family: georgia, palatino, serif; font-size: 12pt;">Justice Patil allowed the withdrawal and granted Ambani liberty to present all his arguments before the bank. The court also said that if Ambani faces an adverse decision from IDBI Bank, he would be free to approach the appropriate legal forum. Importantly, the court clarified that it was not expressing any opinion on the merits of the case.</span></p>
<p data-start="1218" data-end="1455"><span style="font-family: georgia, palatino, serif; font-size: 12pt;">The show-cause notice was issued as part of IDBI Bank&rsquo;s action under the Reserve Bank of India&rsquo;s Master Directions on Fraud Risk Management in Commercial Banks, which outlines the procedure for classifying loan accounts as &ldquo;fraud.&rdquo;</span></p>
<p data-start="1457" data-end="1794"><span style="font-family: georgia, palatino, serif; font-size: 12pt;">The bank&rsquo;s move relates to loans worth ₹750 crore granted to Reliance Communications Ltd. (RCom)&mdash;a company currently undergoing insolvency proceedings. According to IDBI Bank, RCom&rsquo;s loan account and related exposures should be marked as &ldquo;fraud&rdquo; due to alleged diversion or misuse of funds and violations of loan covenants.</span></p>
<p data-start="1796" data-end="2124"><span style="font-family: georgia, palatino, serif; font-size: 12pt;">As promoter and guarantor of RCom, Ambani received the show-cause notice and was called for a personal hearing. His petition before the High Court argued that the bank had not shared the complete forensic audit report and annexures, which formed the basis of its allegations, and therefore sought to defer the hearing.</span></p>
<p data-start="2423" data-end="2719"><span style="font-family: georgia, palatino, serif; font-size: 12pt;">This development follows an earlier setback for Ambani, when the Bombay High Court recently dismissed his plea against the State Bank of India (SBI) for declaring his loan accounts as &ldquo;fraud.&rdquo; In that case, the court upheld SBI&rsquo;s action and rejected Ambani&rsquo;s claim of procedural unfairness.</span></p>
<p data-start="2721" data-end="2890" data-is-last-node="" data-is-only-node=""><span style="font-family: georgia, palatino, serif; font-size: 12pt;">In essence, Ambani will now have to defend his position directly before IDBI Bank, while retaining the option to challenge any adverse outcome in future proceedings.</span></p>
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Anil Ambani Withdraws Plea Against IDBI Bank

Bombay High Court declines interim relief; Ambani to appear before IDBI “under protest”

Anil Ambani Withdraws Plea Against IDBI Bank

Bombay High Court declines interim relief; Ambani to appear before IDBI “under protest”

October 30, 2025 | 20:51 IST