- The Delhi HC has ordered the Union Bank of Indian and Indian Overseas Bank to maintain Status Quo, on a plea filed by Anil Ambani's Reliance Communication and Reliance Telecom against the declaration of their accounts as ‘Fraudulent’.
- Business tycoon Anil Ambani recently filed a petition before the High Court of Delhi against the declaration of certain bank accounts as "fraudulent".
- The petition was filed through Punit Garg, former Executive Director of Reliance Communications.
- After hearing the Petition, the Court directed the Banks to maintain status quo of the concerned accounts till the next hearing.
- However, the Court allowed the Center to “take any steps/investigate/file any complaint proceedings against the two companies independent of the order”.
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