The RBI's Master Directions aim to identify frauds and unscrupulous borrowers for timely action, and every violation of the same is not subject to judicial scrutiny, the Bombay High Court has said while lifting the stay on action by three banks to classify industrialist Anil Ambani's accounts as fraud.
A Bench of Chief Justice Shree Chandrashekhar and Justice Gautam Ankhad on Monday (February 23, 2026) quashed a single Bench order of December 2025, which stayed the action initiated by three public sector banks based on the Master Directions issued by the RBI to classify Mr. Ambani's and Reliance Communications Ltd.'s bank accounts as fraud.
The Court allowed appeals filed by the three public sector banks and the auditor firm BDO India LLP against the December 2025 interim order p
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