New Delhi, Dec. 1 -- Industrialist Anil Ambani has approached the Supreme Court challenging a Bombay High Court judgment that upheld the State Bank of India's (SBI) decision to classify the loan accounts of Reliance Communications Limited (RCOM) and its promoter as "fraud."The appeal, filed last week, is yet to be listed for hearing.
On October 3, a Division Bench of the Bombay High Court comprising Justice Revati Mohite Dere and Justice Neela Gokhale ruled that Ambani, as the "promoter" and "person in control" of RCOM, must face the consequences of SBI's fraud classification.
Between 2012 and 2016, SBI sanctioned loans totaling over Rs 3,600 crore to RCom, Reliance Telecom, and Reliance Infratel.
Following defaults, RCOM's account was d...