The Supreme Court of India is set to hear a special leave petition from Anil Ambani, challenging the classification of his bank accounts as 'fraud' by a consortium of banks, which includes Bank of Baroda, IDBI Bank, and Indian Overseas Bank. This classification arises from alleged financial irregularities amounting to ₹31,580 crore linked to Reliance Communications and other entities of the Anil Dhirubhai Ambani Group (ADAG). The banks based their decision on a forensic audit conducted by BDO India LLP, which flagged these irregularities in a report dated October 15, 2020. Following this report, banks issued showcause notices in 2024 and formally labeled Ambani as 'fraud' on September 2, 2025. Ambani's plea argues that the audit was conducted by an ineligible entity and violated principles of natural justice. Initially, a single judge of the Bombay High Court granted him interim protection on December 24, 2025, but this was overturned on February 23, 2026, by a Division Bench, which stated that the single judge had exceeded his authority and that the challenge was delayed.