Anil D. Ambani vs State Bank of India - 2025 Supreme(Bom) 1785

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2025 Supreme(Bom) 1785

IN THE HIGH COURT OF JUDICATURE AT BOMBAY
REVATI MOHITE DERE, NEELA GOKHALE
Anil D. Ambani – Appellant
Versus
State Bank of India – Respondent

Advocates Appeared:
For the Petitioner: Mr. Darius Khambata, Senior Adv. a/w Mr. Prateek Seksaria, Senior Adv. Mr. D.J.Kakalia, Ms. Bhavna S. Jaipuria, Mr. Kartik Hede a/w Mr. Ayaan Zariwalla, Ms. Bhakti Chandan i/b Mulla & Mulla & CBC,
For the Respondent:Mr. Aspi Chinoy, Senior Advocate a/w Mr. Sudeshna Roy, Mr. Abhiraj Arora, Mr. Treenok Guha, Mr. Ayush Chaturvedi i/b Saraf & Partners Law, Mr. Zal Andhyarujina, Senior Advocate a/w Mr. Pradeep Mane, Mr. Prasad Shenoy, Ms. Riddhi Badheka & Ms. Huzan Bhumgara i/b Desai & Diwanji,

JUDGMENT :

Revati Mohite Dere, J.

1. By this petition, the Petitioner challenges the show- cause notice dated 20^th December 2023 issued by the Respondent No.1 – State Bank of India (“SBI”) and the resultant order dated 13^th June 2025 passed by the Respondent No.1, classifying the account of Reliance Communications Ltd. (“RCOM”) as ‘fraud’ and reporting the name of the Petitioner to the Respondent No.2 – Reserve Bank of India (“RBI”) in terms of the Master Directions on Fraud Risk Management in Commercial Banks (including Regional Rural Banks) and All India Financial Institutions dated 15^th July 2024 (“Master Directions 2024”) and as such seeks quashing and setting aside of the same.

2. Brief facts giving rise to this petition with which we are concerned, are as under:

a) On 22^nd September 2012, the Respondent No.1 – SBI sanctioned term loans of INR 1500 Crore to RCOM; INR 125 Crore to Reliance Telecom Limited (hereinafter referred to as ‘RTL’) and also a non-fund based facility to the tune of INR 859.59 Crores to RCOM.

b) On 29^th August 2016, the Respondent No.1 – SBI sanctioned term loans of INR 565 Crore to RCOM and INR 635 Crore to Reliance Infratel Limited (hereinafter referred to