Bombay High Court stays fraud notices to Anil Ambani; questions banks’ compliance

The Bombay High Court on Wednesday (December 24, 2025) granted interim relief to Anil D. Ambani, restraining Bank of Baroda, IDBI Bank and Indian Overseas Bank from acting on show-cause notices and fraud classification orders issued against him on the basis of a forensic audit report prepared by BDO LLP (Binder Dijker Otte Limited Liability Partnership). Justice Milind N. Jadhav held that the report, dated October 15, 2020, was “prima facie inconclusive and incomplete” and not signed by a qualified Chartere ...