BREAKING: Trouble Mounts For Anil Ambani As Bombay HC Sets Aside Order Staying Fraud Proceedings
In a major blow to Reliance Group Chairman Anil Ambani, the Bombay High Court on February 23, 2026, overturned a December 2025 interim order, permitting Bank of Baroda, IDBI Bank, and Indian Overseas Bank to restart fraud classification proceedings against him over alleged ₹40,000 crore irregularities in his accounts. The division bench labeled the single judge’s stay—issued by Justice Milind Jadhav, citing banks’ non-compliance with RBI’s 2024 Master Directions—"perverse," "illegal," and procedurally flawed, rejecting Ambani’s plea for further suspension. This follows Ambani’s recent Supreme Court assurance against fleeing India without permission and his pledged cooperation with ED (due February 26) and CBI probes into ADAG firms, amid CJI Surya Kant’s push for a faster ED-led SIT investigation.
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