Delhi HC Quashes Union Bank's 'Fraud' Tag on Jai Anmol Ambani Firm; Cites Due Process Breach

• Delhi High Court set aside Union Bank of India's 'fraud' classification of a firm linked to Jai Anmol Ambani.
• The court cited a violation of natural justice principles, as no show-cause notice was issued to Ambani.
• Justice Jyoti Singh's order allows Union Bank to initiate fresh proceedings with proper notice and hearing.
• Ambani argued the bank's action contradicted the Supreme Court's ruling in State Bank of India v Rajesh Agarwal.
• CBI has separate cases against Anil Ambani group companies, including alleged fraud by Reliance Home Finance Ltd (RHFL) causing ₹228 crore loss to Union Bank.

Why It Matters: Delhi HC quashed Union Bank's 'fraud' tag on Jai Anmol Ambani-linked firm due to due process violation.