Trouble continues for Anil Ambani as the Supreme Court of India on Thursday dismissed his three separate pleas, according to PTI. The plea filed by Anil Ambani was challenging a Bombay High Court order that allows banks to continue the process of labelling his and Reliance Communications’ accounts as fraud.
According to PTI,the SC refused to interfere with the February 23 order of the Bombay High Court’s division bench, the SC said, “We see no ground to interfere with the judgement of the High Court (division bench). It is clarified that the observations of the division bench shall have no bearing in the pending suit. The (single-Judge bench) High Court is requested to expedite the disposal of the suit (filed by Ambani against the show cause notices issued by banks on move to declare the accounts as fraud).”
Relief limited to approaching high court
The court clarified that observations made by the division bench will not affect the pending case and asked the single judge bench to expedite the hearing.
“Please go and raise all these issues before the high court… show cause notices have been issued. You have your own remedy against them… institutions have been duped crores of rupees,” the CJI said, adding, “it’s a case of siphoning off… We can’t really express any opinion as we don’t want to prejudice.”
“Please go and raise all these issues before the high court… show cause notices have been issued. You have your own remedy,” the bench said, adding that any intervention at this stage could impact ongoing investigations.
Along with that the Rouse Avenue Court sent two former executives of Anil Ambani Group to 5-day ED custody.
Former Anil Ambani group executives arrested by ED earlier this week
The two executives- Amitabh Jhunjhunwala and Amit Bapna- were arrested earlier this week by the Enforcement Directorate in an alleged bank fraud and money laundering case linked to Reliance Home Finance and Reliance Commercial Finance.
The ED produced them before the judge and sought seven days to question them.