The lenders, led by State Bank of India (SBI), are due to inform the Supreme Court of their decision on the offer at a hearing on Thursday.
India, the bank's second biggest shareholder after China, is looking to borrow from the AIIB.
The banks have asked the court to demand his return and to impound his passport.
The alleged fraud includes the use of fake bills.
A strong showing will be vital to Narendra Modi's chances of a second term.
'We need to look beyond the current approach'.
A proposed 24 percent hike in the salaries of 2.6 million employees and pensioners, will land the railways with a wage bill of about $4.7 billion.
Tata Motors is seeking an image makeover with the curvaceous hatchback, Zica.
The corporate income tax breaks make up a relatively small part of $80 billion in business giveaways.
The government plans to inject a total Rs 70,000 crore into the lenders over four years
Home loans also pose lower bad-debt risks for the banks than corporate loans.
From parity in 1980, China's economy has outgrown India's fivefold to $10 trillion
The RBI cut the rate several times last year to reduce it by 125 basis points to the current 6.75 percent.
India should not loosen its fiscal deficit targets in the forthcoming budget, Prime Minister Narendra Modi's top economic adviser Arvind Panagariya said.
The Indian government will present the annual budget for 2016-17 on February 29.
Retail food inflation in December came in at 6.40 per cent.
Yuan's fall would worsen India's trade deficit with China.
Urjit Patel's reappointment will raise market hopes that Rajan, will also be offered an extension when his tenure ends in September.
Fiscal outlook to be little bit challenging next year: CEA
Trade ministers from 162 WTO countries will gather in Kenya's capital from Dec. 15-18 to work on an agreement to liberalise global trade.
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