Anil Ambani’s appeal to remove fraud-tag from SBI: Advocate said- Bank did not give Anil Ambani a chance to present his case

SBI declared RCom and Anil Ambani as fraud on 13 June.

Anil Ambani’s lawyer has urged the State Bank of India i.e. SBI to remove the tag of fraud against Reliance Communications (RCom) and its promoter-director. The lawyer claimed that the bank has taken this step without giving Anil Ambani a chance to present his case.

Reliance Communications, once one of India’s largest mobile service providers, is currently passing through the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC) 2016. The resolution plan was approved by the Committee of Creditors and the National Company Law Tribunal (NCLT) was filed in Mumbai on 6 March 2020. However, the approval of the tribunal in this case is awaited.

Why did SBI put fraud’s tag?

In July 2025, the government told Parliament that SBI had declared RCom and Anil Ambani on June 13 as a fraud based on the RBI guidelines and their policies.

Union Minister of State for Finance Pankaj Chaudhary had said in a written reply in the Lok Sabha that SBI has also started a process of filing a complaint in the CBI in this matter. Apart from this, the bank has also initiated personal bankrupt proceedings against Anil Ambani, which is pending in Mumbai NCLT.

Anil Ambani’s side

Anil Ambani’s lawyer said that SBI took the decision without a personal hearing, which questions fairness and credibility. According to sources, the bank did not share all the documents related to the show Cause notice with Anil Ambani.

The lawyer also stated that Canara Bank, who was in the group of RCom creditors, withdrew the fraud tag on the company and Ambani in the Bombay High Court on 10 July. Canara Bank admitted that its decision was not legally sustainable. Ambani’s lawyer questioned that when the second bank (Canara Bank) of the same group has withdrawn its decision, why is SBI adamant in this matter?

SBI’s total liability

The total liability in SBI’s RCom includes principal, interest and other expenses of Rs 2,228 crore as of 26 August 2016. Apart from this, there is also a non-fund based guarantee of about 787 crore rupees.

What will happen next in the case?

Anil Ambani’s lawyer has demanded SBI to withdraw the decision and a fair hearing. This case can not only affect the insolvency process of RCom, but can also have a profound impact on Anil Ambani’s personal and commercial credit. The next action of NCLT and SBI will now be monitored in this case.

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