Court Drama: Anil Ambani's Son Faces Bank Fraud Allegation

The Delhi High Court declined to halt a show cause notice to Jai Anmol Ambani regarding a fraudulent bank account allegation against Reliance Home Finance Ltd. The court asked Ambani to present his case to Union Bank within 10 days, with decisions contingent on future court orders.

The Delhi High Court on Monday elected not to intervene in Union Bank of India's show cause notice against Jai Anmol Ambani. The case involves allegations of fraudulent activity concerning the bank account of Reliance Home Finance Ltd (RHFL).

Justice Jasmeet Singh instructed Jai Anmol Ambani, a director of RHFL, to state his case before the bank within 10 days. The judge noted that any subsequent decision by the bank would hinge on the court's final decision in the matter.

The court has issued a formal notice on the case, scheduling the next hearing for February 27. The judge advised the bank to ensure transparency by issuing a 'speaking order' following procedures, now under judicial scrutiny, after the approval of a resolution plan for RHFL.

(With inputs from agencies.)