SC asks CBI, ED to conduct 'fair, prompt' probes against Anil Ambani, ADAG

The Supreme Court on Wednesday asked the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) to carry out a "fair and prompt" investigation into alleged banking fraud linked to Anil Dhirubhai Ambani Group (ADAG) and related companies.

 

The court’s ruling came while hearing a public interest litigation (PIL) seeking a probe into loans and investments made by banks.

 

Last month, the Supreme Court asked the CBI and ED to file status reports on their investigations into alleged large-scale banking and corporate fraud.

Supreme Court questions delay

The Supreme Court criticised the ED for what it called an “unexplained delay” in the investigation. The court also questioned the CBI’s approach of registering only one FIR based on a complaint by the State Bank of India in 2025, even though similar complaints were received from other banks.

 

 

It noted that each complaint relates to a separate transaction and may require a separate FIR, adding that the current method does not appear to follow proper procedure.

 

"Both ED and CBI have already taken time, and we therefore expect that both agencies will act promptly," the court said, reported news agency PTI. "The ED is well advised to constitute a Special Investigation Team (SIT) comprising senior officers and take all lawful measures to take the ongoing investigation to a logical conclusion."

Ambani not to leave country without court permission

The petitioner’s lawyer, Prashant Bhushan, asked the court to stop Anil Ambani from leaving India, citing past cases where loan defaulters fled the country.

 

Solicitor General Tushar Mehta told the court that lookout circulars have already been issued against Ambani and said he would not object to any travel restriction order.

 

Senior advocate Mukul Rohatgi, appearing for Anil Ambani, gave an assurance that his client will not leave the country without the court’s prior permission.

Allegations in the PIL

The PIL, filed by former Union secretary EAS Sarma, alleges massive fraud by ADAG companies. According to PTI, the petitioner claims that over ₹1.50 trillion of debt was written off and funds were siphoned off through shell companies, calling it the country’s largest bank loan fraud.

 

The petitioner said the fraud began in 2007-08, but the FIR was filed in 2025. He alleged that probe agencies have not properly examined the role of banks and their officials in the alleged fraud.

 

The plea said that between 2013 and 2017, companies including RCOM, Reliance Infratel and Reliance Telecom borrowed ₹31,580 crore from banks led by SBI. The petitioner has sought a court-monitored investigation by the CBI and ED, and the formation of an SIT.