The Supreme Court on Thursday refused to entertain industrialist Anil Ambani’s plea challenging the classification of his loan accounts as “fraudulent” by a consortium of banks.

Bank of Baroda, Indian Overseas Bank and IDBI have alleged siphoning of public money to the tune of over ₹30,000 crore.

The apex court, however, said it was not expressing any opinion on Ambani’s plea for settling the dispute with the banks, adding that certain adverse observations made by Bombay High Court against the industrialist shall not influence the proceedings before a civil court in Mumbai.

A bench of Chief Justice Surya Kant, Justice Joymalya Bagchi and Justice Vipul M. Pancholi passed the order while refusing to entertain Ambani’s appeal challenging a February 23, 2026, judgment of a division bench of Bombay High Court refusing to interfere with the decision of the banks.

The division bench had passed the order while vacating the stay imposed by a single-judge bench of the high court, which had stayed the classification of the accounts as “fraudulent”.

Aggrieved, Ambani had filed the present appeal.

Led by a team of senior lawyers Kapil Sibal, Shyam Divan and Narender Hooda, the industrialist sought to challenge the banks’ decision on the ground that the auditing was done by a person who was neither a qualified chartered accountant nor a competent auditor.

However, the apex court said the division bench of the high court had gone into the same averments raised before it on the technical qualifications of the forensic auditor who conducted the audit.