https://www.taxtmi.com/news?id=58068 The High Court upheld SBI's reasoned order classifying Reliance Communications' and Anil Ambani's accounts as fraud, concluding the RBI Master Directions confer a right of representation-not an entitlement to personal hearing-and that the bank had provided adequate opportunity for written objections, satisfying natural justice. The court further held that promoters/directors who exercised control may be held liable when a company's account is declared fraudulent, and noted the bank's allegations of misappropriation and its referral to investigative authorities. en-us Tue, 07 Oct 2025 18:31:03 +0530 Tue, 07 Oct 2025 18:31:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=58068 The High Court upheld SBI's reasoned order classifying Reliance Communications' and Anil Ambani's accounts as fraud, concluding the RBI Master Directions confer a right of representation-not an entitlement to personal hearing-and that the bank had provided adequate opportunity for written objections, satisfying natural justice. The court further held that promoters/directors who exercised control may be held liable when a company's account is declared fraudulent, and noted the bank's allegations of misappropriation and its referral to investigative authorities. News - Tue, 07 Oct 2025 18:31:03 +0530 https://www.taxtmi.com/news?id=58068