Mumbai: The Bombay High Court on Tuesday allowed industrialist Anil Ambani to withdraw his petition seeking to restrain IDBI Bank from proceeding with a personal hearing related to a show-cause notice issued to him for classifying his loan account as 'fraud', reported by livelaw.in.
Justice Sandesh Patil, presiding over the vacation court, expressed his unwillingness to entertain the plea after hearing Ambani’s counsel. Following this, Ambani’s lawyer sought and was granted permission to withdraw the petition, allowing him to attend the personal hearing “under protest.”
The court also granted Ambani liberty to raise all his contentions before an appropriate forum if an adverse order is passed against him. In his plea, Ambani had urged the court to direct IDBI Bank not to proceed with the hearing until all relevant documents and material relied upon by the bank were furnished to him, arguing that the lack of access to these materials would cause him “grave prejudice.”
Through his petition, Ambani had sought directions to restrain the bank from holding a personal hearing until all relevant material was furnished to him. He claimed that proceeding with the personal hearing without the relevant and complete material relied upon by the bank, would cause 'grave' prejudice him.
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