India, Jan. 13 -- IDBI Bank has challenged a Bombay High Court order that granted interim relief to industrialist Anil Ambani by staying coercive action by three banks seeking to classify the loan accounts of his companies as "fraud".

The banks-IDBI Bank, Indian Overseas Bank and Bank of Baroda-had issued show-cause notices to Ambani between January and December 2024, based on a forensic audit report (FAR) from October 2020. The notices proposed declaring the accounts of three companies-Reliance Communications Ltd (RCom), Reliance Telecom Limited (RTL) and Reliance Infratel Limited (RITL)-as fraudulent.

Ambani, the former non-executive director of RCom, had filed separate cases against the three banks, urging the high court to restrain ...