India, Jan. 14 -- Three public sector banks, Bank of Baroda, IDBI Bank, Indian Overseas Bank and auditor BDO India LLP filed an appeal before the Division Bench against the stay on proceedings initiated against industrialist Anil Ambani and Reliance Communications Ltd, classifying their bank accounts as fraud.

The banks challenged a single bench order passed in December 2025, granting interim relief to Ambani and his company, citing violations of mandatory RBI rules and a classic case of banks "waking up from deep slumber" after years.

The Division Bench of Chief Justice Shree Chandrashekhar and Justice Gautam Ankhad heard the matter on Monday and will continue hearing arguments on January 14. Earlier, a single bench of Justice Milind J...