Delhi High Court Seeks Union Bank’s Response on Fraud Tagging of Anil Ambani’s Son’s Company Account

The Delhi High Court asked Union Bank of India to clarify whether it issued a show cause notice or granted a hearing to Jai Anmol Ambani before declaring his company’s account as fraudulent.

The Court noted that borrowers must be heard before such classification and sought a short affidavit from the bank.

Ambani has challenged the fraud declaration as violating principles of natural justice, relying on the Supreme Court’s ruling mandating prior notice.

The matter will be heard again on December 19.

[Anmol Ambani v. Union Bank of India]