Bombay HC Halts Banks' 'Fraud' Tag on Anil Ambani Accounts, Cites RBI Non-Compliance

• Bombay HC stayed banks' coercive actions to classify Anil Ambani's personal and business accounts as "fraudulent" on December 24, 2025.
• The court cited banks' non-compliance with RBI's revised Master Directions (2024) for fraud classification.
• Justice Milind Jadhav restrained Bank of Baroda, IDBI Bank, and Indian Overseas Bank from proceeding.
• Banks failed to follow timelines and used BDO India, a "consultancy," for forensic audit instead of a qualified "auditor" as per 2024 rules.
• This temporary relief comes amidst accusations of fund misappropriation via Reliance Communications (RCom) and ED questioning Ambani's son.

Why It Matters: Bombay HC grants Anil Ambani relief, halting banks' fraud tag due to RBI rule non-compliance.