Delhi High Court Quashes Bank's Decision Declaring Account Of Jai Anmol Ambani's Firm As Fraudulent

The Delhi High Court on Friday reportedly quashed a decision by the Union Bank of India declaring bank account of Anil Ambani's son Jai Anmol Ambani's firm as fraudulent. 

As per a report by PTI, the court said that no show cause notice was served to Jai Anmol Ambani which was sent to an address from which the company had vacated in 2020. 

Justice Jyoti Singh said no show cause notice was ever served to the petitioner before making the declaration as fraud, and quashed the declaration. 

The report states that the court stated that its order will not preclude the bank from issuing a fresh show cause notice to the petitioner. 

The petitioner had moved the high court contending that the bank had declared the account as fraud without issuing any show cause notice. 

As per news reports, the CBI has booked Ambani and Reliance Home Finance Ltd in an alleged case of bank fraud reportedly causing a loss of Rs. 228 crore to Union Bank of India. 

Case title: ANMOL AMBANI v/s UNION BANK OF INDIA

W.P.(C)-19076/2025