Overview

• A division bench of Justices Revati Mohite Dere and Neela Gokhale dismissed Anil Ambani’s petition on October 3, with the detailed judgment released on October 7.
• The court said SBI’s June 13, 2025 order was a reasoned decision with no infirmity and found no merit in Ambani’s challenge.
• Judges clarified there is no guaranteed personal hearing under RBI Master Directions, noting Ambani never sought one and had adequate opportunity to submit written objections including after receiving the forensic audit.
• The bench held that promoters or directors in control are liable for penal measures once a company account is declared fraudulent and said records showed Ambani exercised control over RCom.
• Arguments that the show-cause notice relied on superseded 2016 guidelines were rejected, and the court noted SBI’s process continued under the 2024 directions as SBI’s complaint also led the CBI to register a case and conduct searches over an alleged Rs 2,929.05 crore loss.