Rejects Plea - Business Outrank

The Bombay High Court denied Anil Ambani's appeal to stop State Bank of India from labeling his accounts along with Reliance Communications as fraudulent stock activities. The court judges Revati Mohite Dere and Neela Gokhale dismissed Ambani's defense because SBI used proper reasons to classify his accounts based on financial mismanagement and loan agreement violations. The bank accused Ambani and Reliance Communications of using their loans for unauthorized transactions that violated all loan conditions. Ambani maintained that the stock fraud classification was unjust because he received insufficient notice and essential documents arrived after an extended period. The court maintained SBI's classification of the accounts despite Ambani's defense. The Central Bureau of Investigation executed searches at both Reliance Communications facilities and Anil Ambani's home following SBI's complaint. The bank asserts that stock fraud activities resulted in a total loss of ₹2,929.05 crore. The court decision creates significant problems for Ambani because it strengthens financial oversight of his business activities while extending his current legal challenges.

What's Hot

BYD Stuns the Auto World, Beating Tesla Again in Global EV Race

Stock Fraud Blow for Anil Ambani as Bombay HC Rejects His Plea

Vodafone AGR Dues Case: Centre Seeks Supreme Court Solution

Virus Susceptibility in Species: Study Reveals Surprising Findings

Effective Yoga Poses to Naturally Manage Blood Sugar Levels

Health Budgets Of States Fall Below 8%, Missing National Health Policy Targets

The Connection Between Diet and Organic Skincare – Foods for Healthy Skin

Priyanka Chopra’s Stunning Desi Look Steals the Spotlight at Her Brother’s Wedding Festivities

Jana Nayagan: Vijay Wields a Whip in Stunning 2nd Look Poster, Thrilling Fans

Assam’s Jatin Goswami Honored with Padma Bhushan for Sattriya Legacy

Vijay Vikram Singh Urgently Appeals for Respect Amidst Intense Backlash from Rajat Dalal Fans: ‘I Am Not Bigg Boss

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Indian government approves Singapore Airlines bid to merge Vistara and Air India

Independence Day and Raksha Bandhan Fuel Airbnb Travel Rush

Virus Susceptibility in Species: Study Reveals Surprising Findings

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Bachchan’s ₹83 Crore Duplex Sale Sparks Unbelievable Investment Growth

Kartik Aaryan’s Fitness Secret: How He Achieved a Stunning Transformation

Browsing: Rejects Plea

Stock Fraud Blow for Anil Ambani as Bombay HC Rejects His Plea

BYD Stuns the Auto World, Beating Tesla Again in Global EV Race

Stock Fraud Blow for Anil Ambani as Bombay HC Rejects His Plea

Vodafone AGR Dues Case: Centre Seeks Supreme Court Solution

Singapore Police Review Vedanta Dividend Allegations Amid Viceroy Complaint

Our Picks

BYD Stuns the Auto World, Beating Tesla Again in Global EV Race

Stock Fraud Blow for Anil Ambani as Bombay HC Rejects His Plea

Vodafone AGR Dues Case: Centre Seeks Supreme Court Solution

Most Popular

Is Modi Afraid? Congress Leader Accuses PM of Targeting Rahul Gandhi

Taylor Swift’s Surprise Reunion with Taylor Lautner: ‘I Can See You’ Music Video Launch

Harvesting Hope: Rahul Gandhi’s Empathy in Action with Farmers before 2024 Elections

Subscribe to Updates

What's Hot

Browsing: Rejects Plea