On Thursday, the Supreme Court of India rejected Anil Ambani's appeal against the classification of his loan accounts as fraudulent by a consortium of banks, including Bank of Baroda, Indian Overseas Bank, and IDBI Bank. A bench led by Chief Justice Surya Kant found no grounds to interfere with the Bombay High Court's February 23 order, which permitted the banks to classify the accounts as fraudulent. The court emphasized that this ruling should not hinder the ongoing proceedings in a single-judge bench that had previously stayed the banks' actions due to non-compliance with Reserve Bank of India's guidelines. Ambani's counsel, Kapil Sibal, indicated a willingness to settle the matter with the banks, but the Solicitor General, Tushar Mehta, opposed this, citing potential ramifications for ongoing criminal investigations. The Supreme Court noted that any further legal remedies available to Ambani remain his prerogative and urged the High Court to expedite the hearing of his petition.