Anil Ambani companies' stand is an 'attempt to mislead, smacks deceit': HC

In its initial observations, court finds fault in arguments made against Edelweiss companies for the sale of pledged shares

The Anil Ambani group companies’ initial arguments in the Bombay High Court (HC) alleging misconduct on the part of Edelweiss group companies in the sale of pledged shares and seeking compensation for the same have not gone down well. After hearing both sides, the court has described the Reliance group companies’ stand as smacking of deceit and an attempt to mislead. The court is yet to give its final judgment and has deemed its views as “prima facie”.

On the Anil Ambani group firms’ arguments that they had not been given adequate notice before the pledged shares were sold, the court