Mumbai, March 24: The Bombay High Court on Tuesday declined to urgently hear a petition filed by industrialist Anil Ambani challenging action initiated against him by Bank of Baroda in September 2025, noting that the issue is already pending before the Supreme Court of India (SC).
Court asks petitioner to await Supreme Court decision
A bench of Justices Ravindra Ghuge and Abhay Mantri said it would await the apex court’s decision before proceeding further. “You are seeking the same relief… You are before the Supreme Court. Wait for the Supreme Court order and get protection from there,” the bench observed.
Banks initiated fraud classification process
Several banks, including BOB, had initiated steps to declare Ambani’s account as fraud based on a report prepared by the State Bank of India (SBI), which was based on an audit report prepared by independent auditor BDO LLP.
Ambani challenges reliance on audit report
Senior advocate Karl Tamboly, appearing for Ambani, argued that the bank’s action was based on a forensic audit report prepared by BDO for a consortium led by the SBI, which, he said, could not be relied upon by other banks.
“They have not provided us with a copy of the report or documents. The report itself says it cannot be used by anyone other than SBI,” Tamboly submitted, adding that several banks had initiated fraud classification proceedings on the basis of this report.
He further told the court that the earlier interim protection granted by a single judge had been reversed by a division bench and that Ambani currently had “no protection”.
HC notes parallel proceedings before SC
The bench, however, noted that Ambani had already challenged the same issues before the SC. “If the BDO report is under challenge, any action based on it can be part of your application before the SC,” the court said, adding that the petitioner ought to have withdrawn the present plea.
Bank opposes petition, cites multiple proceedings
Counsel for Bank of Baroda opposed the petition, contending that the issues had already been raised in earlier proceedings and that parallel remedies were being pursued. It was also submitted that multiple suits had been filed against different banks and that investigations by the CBI against Ambani were underway.
Petition kept pending
The court permitted Ambani to mention the matter again after the Supreme Court passed an order, effectively keeping the petition pending for the time being.
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Background of earlier orders
On December 24, 2025, a single judge stayed all present and future action by public sector banks against Ambani and Reliance Communications, holding that lenders had prima facie violated mandatory provisions.
The order was challenged by banks and the auditor, and in February 2026, a division bench of the High Court set aside the interim relief, allowing banks to proceed.
Ambani has challenged the ruling before the SC, where the matter is pending.
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