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India's top court backs SBI's fraud label on Reliance Communications loan, allowing recovery efforts to continue.
The Bombay High Court has dismissed Anil Ambani’s challenge to the State Bank of India’s 2025 classification of Reliance Communications’ loan account as fraudulent, upholding SBI’s decision under RBI guidelines.
The court found no merit in Ambani’s claims of procedural flaws, including delayed evidence disclosure, and affirmed the bank’s authority to designate accounts as fraud based on financial irregularities and non-repayment.
The ruling allows SBI to proceed with recovery efforts and reinforces regulatory standards for corporate loan accountability.
RCom remains in insolvency proceedings, with a resolution plan awaiting approval, while Ambani faces separate personal insolvency proceedings.
El máximo tribunal de la India respalda la etiqueta de fraude de SBI en el préstamo de Reliance Communications, permitiendo que continúen los esfuerzos de recuperación.